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excise tax

An excise tax is a tax imposed on the manufacture, sale, or use of goods—such as cigarettes, fuel, or alcohol—or on an occupation—such as a license tax or an attorney occupation tax—or on an activity such as gambling or betting.

Excise taxes may be ad valorem (calculated by percentage) or specific (calculated per unit).

In Arkansas, excise taxes are levied on various goods, activities, and occupations. For instance, the state imposes an excise tax on tobacco products, motor fuels, and alcoholic beverages. These taxes are often specific, meaning they are charged per unit sold, such as per gallon of gasoline or per pack of cigarettes. Additionally, Arkansas charges excise taxes on certain activities like gambling. The state does not currently impose an occupation tax on attorneys. The revenue generated from excise taxes is typically earmarked for specific state funds or programs. For example, fuel tax revenue may be allocated for transportation infrastructure projects. The Arkansas Department of Finance and Administration is responsible for the administration and collection of these taxes. It's important for businesses and individuals engaged in activities subject to excise taxes to understand their tax obligations under Arkansas law to ensure compliance.

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Taxes

excise tax

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Arkansas State Code

Arkansas State Code

Taxes

excise tax

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