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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 Vermont, excise taxes are levied on various goods and activities. For instance, the state imposes a tax on tobacco products, which is a specific excise tax based on the quantity sold. Vermont also taxes alcoholic beverages, with rates varying depending on the type of alcohol and its volume. Fuel taxes are another example, where the state charges a specific excise tax per gallon of gasoline or diesel fuel. Additionally, Vermont has an excise tax on malt beverages, wine, and spirits. These taxes are often used to fund specific state programs or projects. Unlike some other states, Vermont does not impose an occupation tax on attorneys or other professions. Gambling activities, such as the state lottery, are also subject to excise taxes, with revenues typically directed towards education funding and other state initiatives. The method of calculating these taxes can be either ad valorem, based on the value of the product or service, or specific, based on a fixed amount per unit or transaction.

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Taxes

excise tax

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Vermont State Code

Vermont State Code

Taxes

excise tax

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