Asked by Autumn Gilbert on Apr 29, 2024
Verified
Taxes on specific goods such as gasoline and alcoholic beverages are called
A) excise taxes.
B) payroll taxes.
C) sales taxes.
D) social insurance taxes.
Excise Taxes
Taxes paid when purchases are made on a specific good, such as gasoline or tobacco, often included in the price of the product.
- Distinguish between different types of taxes (e.g., excise, payroll, income, and corporate taxes).
Verified Answer
ZK
Zybrea KnightMay 06, 2024
Final Answer :
A
Explanation :
Excise taxes are taxes levied on specific goods, such as gasoline and alcoholic beverages, often with the aim of reducing consumption of these goods or raising revenue for specific purposes.
Learning Objectives
- Distinguish between different types of taxes (e.g., excise, payroll, income, and corporate taxes).