DATE DRAFT Definition

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DATE DRAFT is a payment option draft that matures in a specified number of days after the date issued.

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EXCISE TAX is a tax imposed by federal, state, and local governments on an act, occupation, privilege, manufacture, sale, or consumption that is not deductible (e.g., tobacco, gasoline and spirits). This term is in increasing usage to describe almost every tax other than income tax and property tax.

FMR see FINANCING MARGIN RATIO.

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