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In many places, cigarettes are exempt from sales tax. However, some tax jurisdictions charge sales tax on cigarettes in addition to an excise tax. For instance, retailers in Colorado charge a 2.9% state sales tax on cigarettes. What is the sales tax on a $5.50 pack of cigarettes in Colorado?
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The sales tax is $0.16.
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A convenience store charges $5.75 for a pack of cigarettes. The sales receipt shows that you paid a total of $5.98 including $0.23 in sales tax. Find the sales tax rate.
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A customer buys four packs of cigarettes in Tennessee. How much does the customer pay in federal and state excise taxes?
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The total the customer pays in state and federal excise taxes is
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In Connecticut, a customer purchases 2 packs of cigarettes for $11.50. What percent of the cost is allocated to federal and state excise taxes?
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How is an excise tax different from a value-added tax?
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A value-added tax is a type of ad valorem tax, which means that it is a percent of the value.
An excise tax is normally based on the quantity being sold (gallons of gasoline or packs of cigarettes), and is not dependent on the price of the gasoline or cigarettes.
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In 1995, the federal excise tax on a pack of cigarettes was $0.24.
- Use a percent to describe the change in the federal excise tax from 1995 to 2010.
- How might the government justify the increase?
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