Excise tax - Revision history

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	<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].~~</onlyinclude>~~<ref>"Routledge Dictionary of Economics", entry excise duty, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> Excise taxes come in two forms, '''ad valorem tax'''<ref >"Routledge Dictionary of Economics", ad valorem, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> and '''specific tax'''.<ref>"Routledge Dictionary of Economics", entry:specific tax, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref><ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>		<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].<ref>"Routledge Dictionary of Economics", entry excise duty, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> Excise taxes come in two forms, '''ad valorem tax'''<ref >"Routledge Dictionary of Economics", ad valorem, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> and '''specific tax'''.</onlyinclude><ref>"Routledge Dictionary of Economics", entry:specific tax, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref><ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>

	==Ad Valorem Tax==		==Ad Valorem Tax==

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	<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].</onlyinclude><ref>"Routledge Dictionary of Economics", entry excise duty, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> Excise taxes come in two forms, '''ad valorem tax'''<ref >"Routledge Dictionary of Economics", ad valorem, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> and '''specific tax'''.<ref>"Routledge Dictionary of Economics", entry:specific tax, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref><ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>		<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].</onlyinclude><ref>"Routledge Dictionary of Economics", entry excise duty, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> Excise taxes come in two forms, '''ad valorem tax'''<ref >"Routledge Dictionary of Economics", ad valorem, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> and '''specific tax'''.<ref>"Routledge Dictionary of Economics", entry:specific tax, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref><ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>

	==Ad Valorem Tax==		==Ad Valorem Tax==

	Ad valorem is latin for "according to value" meaning that the tax is levied as a percentage of the value of the good.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Ad Valorem." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-40?rskey=yRb7xT&result=1 , 2009 [Aug 8, 2016]</ref> For example, an ad valorem tax levied on a [[litre]] of [[gasoline]] would increase the price paid by the consumer. If the price of a litre of gasoline is $0.80 before the tax and the tax levied is 10% then the price paid by the consumer will be $0.88~~. An ad valorem tax levied on a good or service is also known as a '''sales tax'''~~.		This is most commonly known as a '''sales tax'''. ''Ad valorem'' is latin for "according to value" meaning that the tax is levied as a percentage of the value of the good.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Ad Valorem." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-40?rskey=yRb7xT&result=1 , 2009 [Aug 8, 2016]</ref> For example, an ad valorem tax levied on a [[litre]] of [[gasoline]] would increase the price paid by the consumer. If the price of a litre of gasoline is $0.80 before the tax and the tax levied is 10% then the price paid by the consumer will be $0.88.

	==Specific Tax==		==Specific Tax==
	~~Unlike an ad valorem tax, a~~ specific tax (or per unit tax) is a tax paid per unit of a good sold.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Specific Tax." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-2924?rskey=jeSadI&result=1, 2009 [Aug 8, 2016]</ref> ~~For~~ example, a specific ~~excise~~ tax on ~~bags of~~ [[~~charcoal~~]] is ~~used for cooking~~ of $3.~~50 the~~ tax would be ~~the same regardless of the size of bag. The size of~~ a specific tax ~~stays the same when applied~~ to the ~~final price~~, if the ~~price of a 5 kg bag of charcoal is $10~~.~~00 and~~ a ~~10 kg bag is $20~~.~~00, with the~~ tax ~~applied the prices would be $13.50 and $23.50 respectively.~~		A '''specific tax''' or '''per unit tax''' is a tax paid per unit of a good sold.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Specific Tax." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-2924?rskey=jeSadI&result=1, 2009 [Aug 8, 2016]</ref> The tax will depend on the quantity of goods, not the price of those goods. [[Carbon tax]]es are an example of a specific tax, because it depends on how much [[carbon dioxide]] is produced, rather than how much money someone makes off of the [[goods and services\|service]].

			For example, a country could decide to tax carbon emissions at $20 per tonne of emitted CO<sub>2</sub>, and that would be a specific tax. This money would have to be paid because of the quantity of carbon emitted, not on the financial gain that occurred from the emission (eg. a company generating [[electricity]] from burning [[coal]]).

			==For Further Reading==
			*[[Value added tax]]
			*[[Tax]]
			*[[Wealth]]
			*Or explore a [[Special:Random\|random page]]

	==References==		==References==
	{{reflist}}		{{reflist}}
			[[Category: Uploaded]]

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	<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].</onlyinclude><ref>~~Investopedia.~~ "~~Excise Tax.~~" ~~[Online]~~, ~~Available: http://www~~.~~investopedia.com/terms/e/excisetax.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186~~[~~Aug 8~~, ~~2016~~].</ref> Excise taxes come in two forms, '''ad valorem tax''' and '''specific tax'''.<ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>		<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].</onlyinclude><ref>"Routledge Dictionary of Economics", entry excise duty, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> Excise taxes come in two forms, '''ad valorem tax'''<ref >"Routledge Dictionary of Economics", ad valorem, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref> and '''specific tax'''.<ref>"Routledge Dictionary of Economics", entry:specific tax, published Routledge Press, 2013. Edited by Donald Rutherford Online version accessed [August 17th, 2017].</ref><ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>

	==Ad Valorem Tax==		==Ad Valorem Tax==

Jmdonev: 1 revision imported: From the summer

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Jmdonev at 21:18, 17 August 2016

2016-08-17T21:18:19Z

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[[Category:Done 2016-04-30]]
<onlyinclude>An '''excise tax''' is a [[tax]] on a particular good that is paid by the seller and is passed on to the buyer as part of the [[cost]].</onlyinclude><ref>Investopedia. "Excise Tax." [Online], Available: http://www.investopedia.com/terms/e/excisetax.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186[Aug 8, 2016].</ref> Excise taxes come in two forms, '''ad valorem tax''' and '''specific tax'''.<ref>A. Goolsbee, S. Levitt and C. Syverson. ‘’Microeconomics’’. New York: Worth Publishers, 2013, pp. 90.</ref>

==Ad Valorem Tax==

Ad valorem is latin for "according to value" meaning that the tax is levied as a percentage of the value of the good.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Ad Valorem." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-40?rskey=yRb7xT&result=1 , 2009 [Aug 8, 2016]</ref> For example, an ad valorem tax levied on a [[litre]] of [[gasoline]] would increase the price paid by the consumer. If the price of a litre of gasoline is $0.80 before the tax and the tax levied is 10% then the price paid by the consumer will be $0.88. An ad valorem tax levied on a good or service is also known as a '''sales tax'''.

==Specific Tax==
Unlike an ad valorem tax, a specific tax (or per unit tax) is a tax paid per unit of a good sold.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Specific Tax." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-2924?rskey=jeSadI&result=1, 2009 [Aug 8, 2016]</ref> For example, a specific excise tax on bags of [[charcoal]] is used for cooking of $3.50 the tax would be the same regardless of the size of bag. The size of a specific tax stays the same when applied to the final price, if the price of a 5 kg bag of charcoal is $10.00 and a 10 kg bag is $20.00, with the tax applied the prices would be $13.50 and $23.50 respectively.

==References==
{{reflist}}