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Excise tax in the United States is an indirect tax on listed items. Excise taxes can be and are made by federal, state, and local governments and are not uniform throughout the United States. Certain goods, such as gasoline, diesel fuel, alcohol, and tobacco products, are taxed by multiple governments simultaneously. [1]
State and federal inheritance taxes began after 1900, while the states (but not the federal government) began collecting sales taxes in the 1930s. The United States imposed income taxes briefly during the Civil War and the 1890s. In 1913, the 16th Amendment was ratified, however, the United States Constitution Article 1, Section 9 defines a ...
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [ 1 ] [ 2 ] Proceeds from the tax partly support the Highway Trust Fund . The federal tax was last raised on October 1, 1993, and is not indexed to inflation , which increased 111% from Oct. 1993 until Dec. 2023.
Businesses in the United States have to pay a variety of taxes on the products they sell. The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes.
Taxes in the United States are administered by hundreds of tax authorities. At the federal level there are three tax administrations. Most domestic federal taxes are administered by the Internal Revenue Service, which is part of the Department of the Treasury. Alcohol, tobacco, and firearms taxes are administered by the Alcohol and Tobacco Tax ...
On July 1, 1862, the United States Congress passed excise taxes on many items including tobacco. This occurred as a result of the Union's increasing debt during the American Civil War and the federal government's need for additional revenue. After the war, many of these excise taxes were repealed but the tax on tobacco remained.
Excise taxes apply to specific goods and services. Businesses that make or sell chosen goods and services collect most of these taxes. As a consumer, you generally won’t get a bill for excise tax.
If approved in Colorado, the tax would be on top of the 10 to 11% excise tax the federal government placed on firearms starting in 1919. Colorado voters to decide whether 6.5% excise tax will be ...