Excise Legal Meaning and Definition

Here is a simplified definition of the legal term Excise.

Excise (noun): It refers to a tax that is charged on goods and services that are produced, sold or used within a country. Specifically, it is imposed on the manufacture or sale of certain goods or the operation of certain types of businesses. Unlike taxes on incomes or properties, an excise often applies to specific things like a business license or certain products. This tax is sometimes redundantly referred to as an 'excise tax'.