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To: Lizzie Tudor who wrote (5204)9/24/1998 4:42:00 PM
From: Les H  Respond to of 67261
 
Excise tax is a gross revenue tax such as on alcohol sales, restaurants, hotels, amusement parks, etc. It's a tax on operating revenue not on other income, such as properties, investments, etc.



To: Lizzie Tudor who wrote (5204)9/24/1998 5:26:00 PM
From: dougjn  Respond to of 67261
 
Michelle, another way of putting essential the same answer as Les gave is this. An excise tax is any sort of tax based on sales revenues, whether or not it takes the form of an add on tax to the purchase price and which is directly paid by the consumer (the sales tax we are all familiar with).

Doug


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