excise tax

noun

: a tax on certain things that are made, sold, or used within a country : excise

Examples of excise tax in a Sentence

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Individuals applying for Social Security after age 65 should be aware that Medicare Part A may be backdated up to six months, and contributions made during that lookback period are subject to a 6% IRS excise tax per year until corrected. Allison Palmer, Sacbee.com, 6 Mar. 2026 The payments come from revenue collected from the 10% recreational marijuana excise tax. Adrienne Roberts, Freep.com, 5 Mar. 2026 Possible measures include price controls, higher subsidies, fuel excise tax cuts, and lower import tariffs on crude oil and refined products. Anniek Bao, CNBC, 4 Mar. 2026 The downturn has been sharper in the medical marijuana market, which is exempt from the state's 10% excise tax and 24% wholesale tax. CBS News, 4 Mar. 2026 See All Example Sentences for excise tax

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“Excise tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/excise%20tax. Accessed 18 Mar. 2026.

Legal Definition

excise tax

noun
: excise
Last Updated: - Updated example sentences
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