Now, as I was only vaguely aware, there is a federal excise tax on air transportation.
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Small brewers would pay no federal excise tax on the first 15, 000 barrels.
Until 1936, the federal excise tax generated more revenue than the federal personal income tax and the federal corporate income tax combined.
And if we add in other federal taxes, such as the federal excise tax on gasoline, the numbers come down even further.
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Remember the proposed 5% federal excise tax on cosmetic surgery?
Other advantages: By making Giving Back a public charity rather than a private foundation, Pollick avoids a 2% federal excise tax on assets, while donors get a bigger tax writeoff if highly appreciated assets are donated.
Additionally, federal employment and excise tax deposits due on or after May 22 for affected taxpayers in Jasper County are now due June 6, 2011.
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The IRS is waiving failure-to-deposit penalties for federal payroll and excise tax deposits normally due on or after May 18 through June 3 so long as the deposits are made by June 3, 2013.
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The biggest source of federal revenue throughout the New Deal was the excise tax on beer, cigarettes, soft drinks, chewing gum, radios and other cheap pleasures enjoyed disproportionately by middle class and poor people.
The constitution gives the federal government the power to tax imports and exports, selling or manufacturing specific commodities (excise taxes) and incomes, and to impose user fees for government services.
Thus were exposed not only the Snake River Potato Growers but the hard-cider producers of New York and Vermont (who were to be allowed to pay lower federal excise taxes) and the sheriffs of Mississippi, who were to be allowed a new tax deduction for business expenses.
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