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The federal telephone excise tax is a statutory federal excise tax imposed under the Internal Revenue Code in the United States under 26 U.S.C. § 4251 on amounts paid for certain "communications services".
In 1878, a federal telephone excise tax was introduced as a "war tax" to help pay for the Spanish–American War, but was repealed in 1902. [2] In 1914, it was reinstated as part of the Emergency Internal Revenue Tax Act, after President Wilson called on Congress to raise an additional $100 million due to World War I. [1]
Excise taxes on tobacco raised $12.4 billion in fiscal year 2020. [2] The tax equals $1.01 per pack of 20 of cigarettes. Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax ...
The Revenue and Expenditure Control Act of 1968 is a United States law that created a temporary 10 percent income tax surcharge for both individuals and corporations through June 30, 1969, to help pay for the Vietnam War. It also delayed a scheduled reduction in the telephone and automobile excise tax, causing them to end in 1973 instead of ...
Ad valorem taxes are excise taxes based on a fixed percentage of a product’s or service’s value. For instance, the IRS imposes an excise tax of 10% on revolvers and pistols. The excise tax on ...
Federal excise taxes are applied to specific items such as motor fuels, tires, telephone usage, tobacco products, and alcoholic beverages. Excise taxes are often, but not always, allocated to special funds related to the object or activity taxed.
If passed in Colorado, the purchase of a $500 handgun would generate $33 in new taxes, a $1,000 rifle would be $65 in taxes and $20 worth of ammunition would cost an extra $1.30 in taxes.
In addition, by this time thousands of Americans were refusing to pay the federal telephone excise tax on their phone service. [76] In 1970, five Harvard and nine M.I.T. faculty members, including Nobel laureates Salvador E. Luria and George Wald, announced that they would be resisting taxes in protest of the war. [82]