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Excise Tax

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tractor Trailer - www.WhatisTax.org

Excise tax on fuel helps out with the highway trust fund. I would like to give you the complete lowdown on excise taxes in the USA, but the volume of information is enormous.

Excise taxes are differentiated from customs duty in that they are inland taxes and not border taxes.

Excise taxes are normally higher than a sales tax or a Value Added Tax and are included in the price of the item sold.

They are also added to the item although other taxes such as a Value Added Tax or a sales tax is imposed, as well.

Excise taxes are imposed in an enormously varied way and seem to be unpredictable whether or not something could have an excise tax on it.

This is a riot!
I think most people don't know that if you own a tanning salon you are subjected to a 10% excise tax! This started as of July 1, 2010.

Here is another one:
arrows - www.WhatisTax.orgIf you like to shoot arrows with a bow, the arrows are subjected to a 39 cent excise tax.

The IRS tells us that there is a change in the law about wooden arrow shafts If they are the type to be used by children then they are free from excise tax.

This all began on October 4 in 2008.

The arrows have to be natural wood and have to be 5/16 or less in diameter.
They have to be just wood and not made stronger with some laminates, and be the type used by weak bows with a draw under thirty pounds.

Well isn't that affable of them? The poor little kiddies shouldn't pay a tax for a toy.

There are situations where a vehicle is not subject to tax on the body but the chassis is.

Some things are exempt from tax. Blood - www.WhatisTax.org

Sales to a qualified blood collector organization.
This is for the exclusive use in the collection, storage, or transportation of blood.
 (Vampires need not apply)

Sales to Indian tribal governments, but only if the transaction involves the exercise of an essential tribal government function.

Sales to a nonprofit educational organization for its exclusive use.

If you are the United Nations, you are exempt from paying excise for official use.

If you are interested in specifics and have the time on your hands to read the bulk of info, here it is straight from the horses mouth.

http://www.irs.gov/publications/p510/index.html