An example of an excise tax is the federal tax applied to the sale of alcohol and tobacco products. This tax is levied to both regulate and collect revenues from the sale of these specific commodities.
The increase in excise tax on cigarettes is expected to reduce smoking rates and increase government revenue.
Deferred's AI 1031 Research Assistant is trained on 8,000+ pages of US tax law and outperforms human CPAs by 22%+
CHAT NOW