An Excise Tax

question 176

Multiple Choice

An excise tax

• A)is a sales tax on the purchase of a particular good or service.
• B)is a tax on the profits earned from the sale of an asset.
• C)represents a surcharge on corporate profits beyond the normal corporate tax rate.
• D)is a tax on income-earning rental property.

---

Definitions:

Civil Rights

The rights of citizens to political and social freedom and equality, often associated with movements to end discrimination and promote equal protection under the laws.

Underwood Tariff

A 1913 U.S. law that significantly lowered tariffs on imported goods for the first time since the Civil War and implemented an income tax following the ratification of the 16th Amendment.

Tariff Rates

Taxes imposed by a government on imported or exported goods.

Independent Commission

An autonomous body established to investigate, analyze, or oversee specific issues or areas, often governmental or industry-related, without bias.