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Excise Tax

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An excise tax is a type of tax that is applied to a specific commodity or type of goods, such as cigarettes, gasoline, and alcoholic beverages. While the excise tax is assessed on and paid by the manufacturer, the actual tax burden is usually passed along to the consumer by incorporating the amount of the excise tax into the final selling price of the product.

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Copyright © 2011 Advameg, Inc.