excise taxes

All Sources -
Updated Media sources (1) About encyclopedia.com content Print Topic Share Topic
views updated

excise taxes, governmental levies on specific goods produced and consumed inside a country. They differ from tariffs, which usually apply only to foreign-made goods, and from sales taxes, which typically apply to all commodities other than those specifically exempted. In their modern form, excise taxes were first developed by Holland in the 17th cent. and established by law in England in 1643. Introduced into the Dutch colonies in America, the system spread to other colonies. Such taxes were first used by the federal government in 1791 and aroused great opposition. They were repealed (1802) in Thomas Jefferson's administration. During the War of 1812 comprehensive excise taxes were levied again but were repealed in 1817. The taxes imposed during the Civil War included an excise tax on all manufactured goods. Most of those were gradually repealed, and by 1883 only liquor and tobacco were taxed. The Spanish-American War saw a temporary expansion of excise taxes. In both World Wars such taxes were greatly increased; in World War II they were levied on furs, jewelry, and leather as well as on liquor, tobacco, and amusements. Excise taxes, which account for less than 10% of all federal receipts, are far less important than the income tax. Nearly all the states and many municipalities levy excise taxes. The Internal Revenue Service collects federal excise taxes in the United States.

views updated

ex·cise1 • n. / ˈekˌsīz/ [usu. as adj.] a tax levied on certain goods and commodities produced or sold within a country and on licenses granted for certain activities: excise taxes on cigarettes. • v. / ikˈsīz; ek-/ [tr.] [usu. as adj.] (excised) charge excise on (goods): excised goods. ex·cise2 / ikˈsīz/ • v. [tr.] cut out surgically: the precision with which surgeons can excise brain tumors. ∎  remove (a section) from a text or piece of music: the clauses were excised from the treaty. DERIVATIVES: ex·ci·sion / -ˈsizhən/ n.

views updated

exciseadvise, apprise, apprize, arise, assize, capsize, chastise, comprise, demise, despise, devise, downsize, excise, flies, guise, incise, low-rise, misprize, outsize, previse, prise, prize, remise, revise, rise, size, surmise, surprise, uprise, wise •archaize • heroize • ghettoize •Judaize • bye-byes • disenfranchise •propagandize • periodize • iodize •merchandise • melodize •gourmandize • methodize •anthropomorphize • apostrophize •elegize • analogize • syllogize •anthologize, mythologize, psychologize, tautologize, theologize •hierarchize •excise • queen-size • laicize •Anglicise, Anglicize •polemicize • classicize • fanaticize •elasticize • poeticize • parenthesize •mythicize •photosynthesize, synthesize •synopsize • apotheosize • emphasize •circumcise • exercise • metastasize •hypostasize •affranchise, enfranchise, franchise •fetishize • alphabetize • concretize •poetize • palletize • pelletize •unitize • remonetize • syncretize •securitize • synthetize • robotize •narcotize •anagrammatize, epigrammatize, melodramatize, overdramatize •emblematize, lemmatize •legitimatize • dogmatize • aromatize •problematize • automatize •bureaucratize • advertise •telepathize • televise •collectivize, objectivize •relativize • supervise • improvise

views updated

EXCISE

A tax imposed on the performance of an act, the engaging in an occupation, or the enjoyment of a privilege. A tax on the manufacture, sale, or use ofgoods or on the carrying on of an occupation or activity, or a tax on the transfer of property. In current usage the term has been extended to include various license fees and practically every internal revenue tax except theincome tax(e.g., federal alcohol and tobacco excise taxes).

views updated

excise1 †toll, tax XV; duty on commodities XVII. — MDu. excijs — OF. acceis :- Rom. *accēnsum, f. L. AC- + cēnsus tax (see CENSUS).

views updated

excise2 cut out. XVI. f. excīs-, pp. stem of L. excīdere, f. EX-1 + cædere cut.
So excision XV. — (O)F. — L.

views updated

excise (ek-syz) vb. to cut out tissue, an organ, or a tumour from the body.
excision (ek-si-zhŏn) n.