EXCISE TAX Definition

Bookmark and Share

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

AAA is American Accounting Association, Association of Accounting Administrators, or see ACCUMULATED ADJUSTMENT ACCOUNT.

BOY is Beginning Of Year.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.