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Glossary Definition

What is an Excise Tax?

An excise tax is a required tax levied on a specific good or service that typically must be paid for by a business. The tax is usually passed onto consumers through increased prices. Taxes on gas, alcohol, airline tickets or tobacco are examples. A specific excise tax requires a set tax amount for a product per unit purchased, while an ad valorem excise tax requires a set percentage for a product based on the total cost.

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Corvee Blog

Read the latest tax planning thought leadership from Corvee.

Tax Planning Strategies

Our team of tax experts has scoured tax rules and regulations to create detailed tax strategies you can use to find savings for your clients.

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