Excise taxes in Massachusetts signify levies imposed on particular items and providers. Calculation strategies fluctuate relying on the merchandise topic to the tax. As an example, motorized vehicle excise is predicated on the car’s assessed worth, whereas taxes on gasoline are decided by the variety of gallons bought. A transparent understanding of the precise tax sort is essential to figuring out the calculation methodology relevant.
These taxes function a major income supply for the Commonwealth, contributing to funding important public providers and infrastructure tasks. Traditionally, excise taxes have been utilized to discourage consumption of sure merchandise, akin to tobacco and alcohol, along with producing income. Their implementation displays a coverage determination to steadiness fiscal wants with societal goals.