Have you ever wondered why gas, cigarettes or alcohol cost so much? The answer often comes down to an excise tax — a special tax that’s built right into the price of certain goods. So, what is excise ...

Opinion: Implementing excise taxes may require changes to point-of-sale systems, invoicing, and record-keeping. Tax professionals can help advise on necessary system changes to ensure taxes are ...

This interim guidance may be relied upon until regulations addressing the provision are issued. It is expected that the regulations will closely follow the definitions and rules in the notice. The ...

California will be the first U.S. state to charge an excise tax on guns and ammunition, starting in July. The new tax — an 11% levy on each sale — will come on top of federal excise taxes of 10% or 11 ...