What is the federal excise tax ? The FET is a 10- to 11-percent tax manufacturers pay on the first sale of firearms, ammunition, and some archery equipment under. This decrease in cigarette sales induced by the increase in the federal excise tax would result in the tobacco leaf output and price declining by 2. Shop › Books › Social Sciences novapublishers. There are four common types of excise taxes : (1) sumptuary (or “sin”) taxes, (2) regulatory or environmental taxes, (3) benefit-based taxes (or user charges) and.
Qualified on-board idle reduction devices and advanced insulation are exempt from the federal excise tax imposed on the retail sale of heavy-duty highway . All levels of government - federal , state and municipal - use excise taxes as an additional means to collect taxes from consumers. US government by manufacturers and distributors of goods such as fuel and tobacco: Members of Congress are exploring a . Excise taxes are imposed by the federal , state, and local governments. The taxes can either be applied as a percentage of the total cost of a product or service or . Businesses that make or sell chosen goods and services collect most of these taxes.
Our lawyers have in-depth knowledge of the excise tax regimes in the Internal Revenue Code and experience with the compliance procedures unique to the .