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Module two discusses license fees, excise taxes, and regulations imposed by federal, state, and local revenue agencies. Licenses are necessary for regulated activities, varying by jurisdiction. Various federal agencies issue licenses for activities closely regulated by the federal government. Any business operating in the US typically requires a state license or approval. Licenses, fees, and excise taxes are required for commonly regulated activities to ensure compliance with regulations governing specific occupations, trades, and professions. These legal devices are administered by government agencies.
