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 ...

Proposition KK would levy a new 6.5 percent excise tax on gunsellers for all sales of ammunition, firearms and gun parts. The money would fund programs for crime victims and behavioral health support ...

More than 230 years ago, one of the first acts of the First Congress in 1789 included a relatively mundane, but important, tax policy allowing a refund on excise taxes. Unfortunately, this has become ...

[Stay on top of transportation news: Get TTNews in your inbox.] Legislation designed to repeal a World War I-era tax on new heavy-duty trucks, tractors and trailers was recently introduced in the U.S.

In 2022, lawmakers introduced a new excise tax on stock repurchases. This one percent tax applies to net share repurchases of large corporations and was projected to raise $73.6 billion over a decade.

If you missed the deadline for taking your 2023 required minimum distribution from your inherited IRA, you owe the IRS an excise tax of 25% of the shortfall. If the deadline was missed because of a ...