Businesses in the United States have to pay a variety of taxes on the products they sell. The most common example of this is sales tax. But in some cases, companies may also have to pay excise taxes.

A proposed section in the U.S. House of Representatives version of the One Big Beautiful Bill (OBBB) would impose a 3.5 percent excise tax on a remittance of money. This proposal has wide-ranging ...

On August 12, 2022, the U.S. House of Representatives approved H.R. 5376, the “Inflation Reduction Act” (the Act), which was signed into law by President Biden on August 16, 2022. The approval and ...

This interim guidance may be relied upon until regulations addressing the provision are issued. It is expected that the regulations will closely follow the definitions and rules in the notice. The ...

USA flag and contemporary glass architecture of Financial District, New York City, USA. Eric Solomon of Steptoe & Johnson LLP discusses the new excise tax on corporate stock buybacks and examines the ...

California will be the first U.S. state to charge an excise tax on guns and ammunition, starting in July. The new tax — an 11% levy on each sale — will come on top of federal excise taxes of 10% or 11 ...