Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced financial consultant. She has ...

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.

IRS spokesperson Stacy Engle said most excise tax paid by consumers goes toward funding projects the tax is for, such as highway or airport improvements. What is excise tax and where does it go?

This is part 2 of Weintraub’s series covering the major changes from the OBBBA. This follows our initial article where we discussed the no tax on tips and overtime provisions, the SALT deduction, and ...

The IRS on Friday issued final regulations (T.D. 10002) on the Sec. 4501 1% excise tax on corporate stock repurchases enacted by the Inflation Reduction Act of 2022, P.L. 117-169. The final ...

In layman’s language, the word “excise” is a transitive verb that means to remove or to cut off. But in public finance, it means an internal tax imposed on the manufacture, sale or consumption of a ...

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 ...