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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 South Carolina, excise taxes are imposed on various goods and activities. For instance, the state levies a tax on cigarettes, which is a specific excise tax calculated per pack sold. Similarly, there are excise taxes on motor fuel, which are also specific taxes calculated per gallon. Alcohol is subject to both state excise taxes and additional sales taxes, with rates varying depending on the type of alcoholic beverage. When it comes to activities, South Carolina imposes a tax on the gross proceeds of bingo games, which is an example of an excise tax on gambling. The state does not impose an occupation tax on attorneys or other professions. Excise taxes in South Carolina are typically specific rather than ad valorem, meaning they are based on the quantity of the item sold or used rather than its value.

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Taxes

excise tax

Individual & Family Legal Plan

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South-Carolina State Code

Taxes

excise tax

South-Carolina State Code

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