Excise Break Record For Free

Definition of Excise Tax An excise tax is a tax on the transfer of ownership from the seller to the buyer paid at closing. The tax amount is based on the sale price of the home and varies by state and local government.

Key Takeaways An excise tax is similar to a sales tax, but it's levied only on certain products or services. The most common excise taxes are imposed on tobacco, alcohol, and gasoline.The tax is generally payable by the manufacturer.

The primary function of these duties and levies is to ensure a constant stream of revenue for the State, with a secondary function of discouraging consumption of certain harmful products; i.e. harmful to human health or to the environment.

The liability for payment of excise tax shall also occur when excise goods are imported, produced, transported and in other manner released into circulation contrary to the provisions of this Law. (1)The excise taxpayer is a producer or excise goods importer, unless otherwise prescribed by this Law.

Attention: The local REET must be calculated and added to the graduated state rate for the total tax due....Graduated REET Structure. Sale price thresholdsTax rate$500,000 or less1.10%$500,000.01 - $1,500,0001.28%$1,500,000.01 - $3,000,0002.75%$3,000,000.01 or more3%

Sales of medical records, patient account records, and radiology film copies. Sales of meals (other than to hospital patients) (WAC 458-20-119) Sales of meals to employees (WAC 458-20-119) Casual sales (WAC 458-20-106)

General fund excise taxes are imposed on many goods and services, the most prominent of which are alcohol, tobacco, and health insurance. Other general fund excise taxes include taxes on local telephone service, vehicles with low-mileage ratings (?gas guzzlers?), ozone-depleting chemicals, and indoor tanning services.