2.02 I Can Understand Types Of Tax

Kristopher Hunter

Excise tax

Excise tax- Taxes collected from the seller or retailer and as such often remain "hidden" in the price of a product or service, rather than being listed separately

Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. Excise taxes are often included in the price of the product. There are also excise taxes on activities, such as on wagering or on highway usage by trucks.

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