Washington, D.C.—Congressman Doug LaMalfa, R-Richvale, reintroduced bipartisan legislation to repeal the 12 percent federal excise tax on heavy trucks in partnership with Reps. Pappas, D-NH, LaHood, R ...

Businesses in the United States have to pay a variety of taxes on the products they sell. The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes.

The Treasury and the Internal Revenue Service say guidance is forthcoming on a new method for recovering federal excise tax ...

On April 16, 2024 (“Budget Day”), the federal government released its annual budget (“Budget 2024”), which includes certain sales and excise tax measures and also confirms the government’s intention ...

IRS spokesperson Stacy Engle said most excise tax paid by consumers goes toward funding projects the tax is for, such as highway or airport improvements. What is excise tax and where does it go?

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Starting in July 2024, California will be the first state to charge an excise tax on guns and ammunition. The new tax – an 11% levy on each sale – will come on top of federal excise taxes of 10% or 11 ...

California will be the first U.S. state to charge an excise tax on guns and ammunition, starting in July. The new tax — an 11% levy on each sale — will come on top of federal excise taxes of 10% or 11 ...