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.

Have you ever wondered why gas, cigarettes or alcohol cost so much? The answer often comes down to an excise tax — a special tax that’s built right into the price of certain goods. So, what is excise ...

Small businesses that sell goods or services that incur excise taxes need to file IRS Form 720 quarterly. Many, or all, of the products featured on this page are from our advertising partners who ...

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?

The first thought most people have about taxes is what a pain it is to prepare your tax return and pay the thousands of dollars most taxpayers owe to the IRS every year. Yet beyond the income tax, ...