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.

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SISTER COMPANY is similar to the way in which a family is structured, two or more sister companies (sibling) share the same Parent Company or individual owner. Like a Subsidiary, it is a separately incorporated business.

INDUSTRIAL ESPIONAGE or corporate espionage is espionage conducted for commercial purposes instead of national security purposes, e.g. spying on one's competitors to gain a competitive advantage.

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