Excise (Noun)
Meaning
A tax that is measured by the amount of business done (not on property or income from real estate).
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government imposed an excise on tobacco products to discourage smoking and generate revenue.
- Excises on luxury goods, such as designer handbags and high-end watches, can be steep and costly to consumers.
- To help reduce traffic congestion, the city introduced an excise on parking spaces in high-demand areas.
- An excise on petroleum products can fluctuate significantly with changes in global oil prices.
- Small business owners must navigate complex excise laws when shipping products across state or international borders.