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Excise taxes are commonly levied on cigarettes, alcoholic beverages, soda, gasoline, insurance premiums, amusement activities, and betting, and typically make up a relatively small and volatile portion of state and local and, to a lesser extent, federal tax collections.

Your liquor store profit margin will typically be between 20% and 30%. These profit margins are in line with averages from other retail businesses. If you're looking to open a beer or wine store, those businesses have about 40% average net profit.

You are required to pay excise tax on alcoholic beverages sold or used in New York State during the period covered by the tax return. Under certain circumstances, registered distributors can purchase alcoholic beverages from another registered distributor without payment of the ABT. See Interdistributor exemption.

The 6.875% general sales tax rate and 2.5% liquor gross receipts tax apply to beer, wine and other alcoholic beverages sold at on-sale or off-sale premises.

You can hire a debt settlement company who will negotiate with your creditor for a fee, or you can cut out the middleman and do it yourself. Debt settlement is commonly used when the borrower can no longer afford the high interest on credit card debt, coupled with the amount owed.

1 For example, if you owe $20,000 on a credit card, and can scrape up $10,000 in cash, you might be able to settle for that amount. You can try to negotiate a debt settlement on your own, but it's typically done through third parties like debt relief companies, which you hire to negotiate on your behalf.