Federal taxes on the sale of alcohol, tobacco, and gasoline are examples of ______________ taxes.

Question

Quizplus · Accepted Answer

Excise taxes are taxes on specific goods, such as alcohol, tobacco, and gasoline, that are often viewed as harmful or in need of regulation. These taxes are typically included in the price of the goods and are paid by the supplier, but the cost is often passed on to the consumer in the form of higher prices.

Federal Taxes on the Sale of Alcohol, Tobacco, and Gasoline