EXCISE TAX Definition

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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.

Learn new Accounting Terms

ACCRUED VACATION see ACCRUED LIABILITY.

DOBRA (DOBRAS) is a currency of St. Thomas & Prince.

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