how is an excise tax different from a sales tax?\no an excise tax is not deductible.\no an excise tax…
how is an excise tax different from a sales tax?\no an excise tax is not deductible.\no an excise tax applies to specific products.\no an excise tax applies only to imported goods.\no an excise tax is an indirect tax.
Answer
Brief Explanations:
An excise tax is levied on specific goods or services like gasoline, tobacco, etc. while a sales - tax is a broader tax on general sales. Sales tax applies to a wide range of products at the point of sale, and excise tax is targeted. Also, both can be indirect taxes and some excise taxes may be deductible in certain cases. And excise tax is not only for imported goods.
Answer:
An excise tax applies to specific products.