Some products carry special taxes, known as excise taxes. Businesses pay these taxes and pass them on to consumers. They can be imposed as a specific amount or a percentage of the value of the ...
A sin tax is an excise tax on specific goods and services due to their perceived ability to be harmful or costly to society. The tax comes at the time of purchase. Some items that often have a sin ...
As an excise tax, consumers pay sin tax when an item, such as a pack of cigarettes, is purchased at a sales counter. Sin tax rates can range from a little to a lot, but they tend to be higher than ...