The consumer has to pay the excise duty or excise tax while making a purchase. Retailers need to calculate the excise duty from time to time and must ensure the timely payment of the same.

Opinions expressed by Forbes Contributors are their own. I cover changes and new developments in the federal tax law. The Superfund Excise Tax went into effect on July 1, 2022, and many companies ...

The U.S. Fish and Wildlife Service (USFWS) announced on Jan. 15 that more than $1.3 billion will soon be heading to states, ...

The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes. But what is excise tax and how does it work? Is your company responsible for it?