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A sin tax (also known as a sumptuary tax, or vice tax) is an excise tax specifically levied on certain goods deemed harmful to society and individuals, such as alcohol, tobacco, drugs, candy, soft drinks, fast foods, coffee, sugar, gambling, vaping, cannabis (wherever legal for recreational use) and pornography. [1]
The seventh-century BC law-text of Locrians by Zaleucus, the first written 'law code' in ancient Greece, stipulated: . A free-born woman may not be accompanied by more than one female slave, unless she is drunk; she may not leave the city during the night, unless she is planning to commit adultery; she may not wear gold jewelry or a garment with a purple border, unless she is a courtesan; and ...
In the United States, the term "excise" has at least two meanings: (A) any tax other than a property tax or capitation (i.e., an excise is an indirect tax in the constitutional law sense), or (B) a tax that is simply called an excise in the language of the statute imposing that tax (an excise in the statutory law sense, sometimes called a ...
Here are dozens of odd and sometimes unbelievable state tax laws -- including a number of regulations that could save consumers money.
A Pigouvian tax (also spelled Pigovian tax) is a tax on any market activity that generates negative externalities (i.e., external costs incurred by third parties that are not included in the market price). A Pigouvian tax is a method that tries to internalize negative externalities to achieve the Nash equilibrium and optimal Pareto efficiency. [1]
With the power to tax implicitly comes the power to spend the revenues raised thereby in order to meet the objectives and goals of the government. To what extent this power ought to be utilized by the Congress has been the source of continued dispute and debate since the inception of the federal government, as will be explained below.
Under the TCJA, key changes were made to individual tax laws, including the near-doubling of the standard deduction and increasing the child tax credit to $2,000, from $1,000.
Uncommon Laws. The United States tax code is anything but simple. The instructions for the standard 1040 tax form alone are more than 100 pages long, and good luck getting through them in one sitting.