Meaning of excise

excise




An excise tax is a special tax levied on specific products sold within a country. To excise something can also mean to get rid of it. Say, wouldn’t it be nice if they would excise the excise taxes?

An excise tax is simply an extra tax put on various products. Perhaps the most common examples are the taxes levied on tobacco and liquor, often called “sin taxes” because drinking and smoking are considered vices. There is also an excise tax on gasoline. To cover the tax, the seller will usually raise the price of the item. Interestingly, the word excise (ek-SIZE) used as a verb means to remove something by cutting it out. Good luck with excising the excise taxes!

Definitions of excise
  1. verb

    remove by cutting

    “The surgeon
    excised the tumor”
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    type of:

    cut out

    delete or remove

  2. verb

    remove by erasing or crossing out or as if by drawing a line

    synonyms:

    expunge, scratch, strike

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    type of:

    cancel, delete

    remove or make invisible

  3. noun

    a tax that is measured by the amount of business done (not on property or income from real estate)

    synonyms:

    excise tax

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    types:

    nuisance tax, sales tax

    a tax based on the cost of the item purchased and collected directly from the buyer
    VAT, ad valorem tax, value-added tax

    a tax levied on the difference between a commodity’s price before taxes and its cost of production
    gasoline tax

    a tax on every gallon of gasoline sold
    type of:

    indirect tax

    a tax levied on goods or services rather than on persons or organizations

  4. verb

    levy an excise tax on

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    type of:

    tax

    levy a tax on

Word Family

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