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How to excise spreadsheet record

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in this video were going to discuss the concept of excise taxes so an excise tax is just a tax thats been imposed on specific goods and services and this key word here is specific so its not a broad general tax on goods and services like a sales tax so when we think about the types of specific goods and services that are typically subject to to an excise tax we think about things like fuel gasoline things like like alcohol beer cigarettes air travel phone service so these are the types of things you typically have an excise tax on so even though its not as broad as you know for example a sales tax this is still very important text because the excise tax can actually be quite high on some of these things right so it might be for example for a package of cigarettes maybe theres a federal excise tax of $1.00 per pack so when we think of and I should probably mention here that when we talk about whether the excise tax is being imposed its imposed that could be a federal excise tax or

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What is the excise tax on liquor in North Dakota?

The North Dakota gross receipts tax rate on alcoholic beverages is 7%, not the general sales tax rate of 5%. Alcoholic beverage retailers may include tax in the posted price of all on-sale beverages and off-sale alcoholic beverages.

What is the excise tax on beer in North Dakota?

North Dakota Beer Tax - $0.16 / gallon ✕ North Dakotas general sales tax of 5% does not apply to the purchase of beer. In North Dakota, beer vendors are responsible for paying a state excise tax of $0.16 per gallon, plus Federal excise taxes, for all beer sold.

What is motor vehicle excise tax in North Dakota?

The tax laws impose an excise tax at the rate of 5% on all vehicles purchased either in or outside the State of North Dakota. The tax is payable to the Motor Vehicle Division at the time title application for the vehicle is made. The tax is computed on the full purchase price less any trade-allowance.

How is an excise tax different from a sales tax?

Unlike general sales taxes, excise taxes are usually applied on a per-unit basis instead of as a percentage of the purchase price. For instance, cigarette excise taxes are calculated in cents per pack. And most gasoline excise taxes are imposed in cents per gallon.

What is an example of an excise tax?

What is an example of excise tax? The federal gas tax is an excise tax. The US federal government charges 18.4 per gallon of gasoline and 24.4 per gallon for diesel fuel. These excise taxes stay the same regardless of other price inputs and are baked into the advertised price.

What is North Dakota excise tax?

Tax imposed. There is hereby imposed an excise tax at the rate of five percent on the purchase price of any motor vehicle purchased or acquired either in or outside of the state of North Dakota for use on the streets and highways of this state and required to be registered under the laws of this state. 57-40.3-02.1.

What is an excise tax in Washington state?

Real estate excise tax (REET) is a tax on the sale of real property. All sales of real property in the state are subject to REET unless a specific exemption is claimed. The seller of the property typically pays the real estate excise tax, although the buyer is liable for the tax if it is not paid.

What taxes are excise tax?

Excise Tax is a tax on the production, sale or consumption of a commodity in a country.

What is excise tax in SD?

A 2% contractors excise tax is imposed on the gross receipts of all prime and subcontractors engaged in construction services or reality improvement projects. The work must be for the utility company and the prime contractor must receive payment directly from the utility company to be taxed under SDCL 10-46B.

Is Washington excise tax the same as sales tax?

Use tax is paid directly to the state using the use tax lines of the excise tax return or the use tax form. The local use tax rates are the same as the retail sales tax rates.

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Excise spreadsheet record easily