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excise duty

Definition 1

Ad valorem tax levied on manufacture, sale, or use of locally produced goods (such as alcoholic drinks or tobacco products).

Definition 2

Ad valorem tax levied on a firm's revenue, instead of (like income tax) on the firm's income.

Definition 3

Fixed tax levied on an activity or occupation, such as the license fee charged from attorneys, doctors, and other professionals. Also called excise tax.

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