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Taxes

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 Colorado, excise taxes are levied on various goods and activities. For instance, the state imposes an excise tax on tobacco products, alcohol, and marijuana. The tax on cigarettes is a specific tax, meaning it is a fixed amount per pack, while the tax on other tobacco products is a percentage of the manufacturer's list price. Alcohol excise taxes vary depending on the type of alcoholic beverage and are calculated both per unit and by volume. Colorado also imposes a retail marijuana sales tax, which is a percentage of the sales price. Additionally, there are excise taxes related to fuel, which are typically per gallon. Unlike some other states, Colorado does not impose an occupation tax on attorneys. Excise taxes on activities such as gambling are also present, with specific taxes applied to casino revenue. These taxes are used to fund various state programs and services, including education, transportation, and public health initiatives.

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Taxes

excise tax

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Taxes

excise tax

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