Excise Wage Document For Free

Excise duty applies to specific goods and services while sales tax is charged for a much broader range of things. Sales tax is typically charged as a percentage of the cost, while excise duty can be charged as a percentage of the cost or on a per-unit basis.

Real estate excise tax (REET) is a tax on the sale of real property. All sales of real property in the state are subject to REET unless a specific exemption is claimed. The seller of the property typically pays the real estate excise tax, although the buyer is liable for the tax if it is not paid.

An excise tax is a legislated tax on specific goods or services at the time they are purchased. Goods subject to excise taxes could be fuel, tobacco, and alcohol, among others.

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.

Excise duty is to be paid by the manufacturer of the goods and not by the consumer. Custom duty is to be paid by the importer of the goods. A number of provisions are common for excise duty and custom duty with the major difference being the place of production of the goods in question.

Excise taxes are taxes imposed on certain goods, services, and activities. Taxpayers include importers, manufacturers, retailers, and consumers, and vary depending on the specific tax.

Excise duty is an indirect tax which has been subsumed by the Goods and Services Tax or GST. However, there are certain items on which excise duty is still charged. For example, alcohol, tobacco, and fuel.

Specific excise taxes are fixed dollar amounts applied to purchases on a per-unit basis. Examples of federal specific excise taxes include those imposed on cigarettes, beer and gasoline. However, states might have additional excise taxes of their own.