excise

An excise tax is a special tax levied on specific products sold within a country. To excise something can also mean to get rid of it. Say, wouldn't it be nice if they would excise the excise taxes?

An excise tax is simply an extra tax put on various products. Perhaps the most common examples are the taxes levied on tobacco and liquor, often called "sin taxes" because drinking and smoking are considered vices. There is also an excise tax on gasoline. To cover the tax, the seller will usually raise the price of the item. Interestingly, the word excise (ek-SIZE) used as a verb means to remove something by cutting it out. Good luck with excising the excise taxes!

Primary Meanings of excise

1.
v
remove by cutting
2.
nv
a tax that is measured by the amount of business done (not on property or income from real estate)
levy an excise tax on
Full Definitions of excise
1

v remove by cutting

“The surgeon excised the tumor”
Type of:
cut out
delete or remove

v remove by erasing or crossing out or as if by drawing a line

Synonyms:
expunge, scratch, strike
Type of:
cancel, delete
remove or make invisible
2

n a tax that is measured by the amount of business done (not on property or income from real estate)

Synonyms:
excise tax
Types:
nuisance tax, sales tax
a tax based on the cost of the item purchased and collected directly from the buyer
VAT, ad valorem tax, value-added tax
a tax levied on the difference between a commodity's price before taxes and its cost of production
gasoline tax
a tax on every gallon of gasoline sold
Type of:
indirect tax
a tax levied on goods or services rather than on persons or organizations

v levy an excise tax on

Type of:
tax
levy a tax on

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