luxury tax

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luxury tax,

levy on articles that are not essential to a normal standard of living. Such taxes may be imposed strictly for revenue purposes or they may be intended to discourage consumption of certain articles, e.g., the tax on French lawns and laces in the 18th cent. in England. In modern times such "conventional necessities" as alcohol, tobacco, jewelry, furs, amusements, private automobiles, and candy have been taxed. In the United States, luxury taxes have been levied frequently, especially in wartime, to raise revenue as well as to discourage the flow of essential resources into the production of items not related to the national effort.
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References in periodicals archive ?
LAHORE -- Despite the downward revision of luxury taxes on imported vehicles, the Punjab Excise and Taxation Department has failed to attract new owners of imported cars.
He said that the recovery heads include property taxes, motor vehicles taxes, professional taxes, cotton fee, entertainment duty, excise duty, luxury taxes, etc.
SIALKOT -- The Excise and Taxation Department issued the final recovery and warning notices to the owners of 90 bungalows for the payment of their outstanding luxury taxes.
Recoveries were made in the shape of property, entertainment, motor registration, professional, luxury taxes and excise duties, in Gujranwala division's all six districts, Sialkot, Narowal, Gujrat, Mandi Bahaud Din, Hafizabad and Gujranwala.
Apart from this, there are luxury taxes on room rentals, entertainment taxes on casinos, discos, video game parlours, state entry permit, road tolls.
The Lakers used the one-time amnesty clause on World Peace on Thursday, and avoided paying $15 million in luxury taxes in the process.
Affected by the luxury taxes and uncertain global economy, Taiwan saw consistently decreasing land increment value taxes over the past several months, with such taxes totaling NT$10.7 billion in the first two months, down 23.4%, or a decrease of NT$3.3 billion, year-on-year.
The OC has also sought a full waiver of 10 per cent luxury taxes levied on hotel rooms being used by participants during the preliminary events.
The welfare effect of luxury taxes has not yet been studied in the sports economic literature.
(5, 6) These luxury taxes were reported on Form 8807, Certain Manufacturers and Retailers Excise Tax, now obsolete.
Luxury taxes paid, 1997-99 Year Taxes paid Total, 1997-99: Baltimore Orioles $10,643,897 New York Yankees 9,919,651 Los Angeles Dodgers 2,712,672 Boston Red Sox 2,205,960 Cleveland Indians 2,065,496 Atlanta Braves 1,795,582 New York Mets 1,137,992 Florida Marlins 139,607 1997: New York Yankees 4,431,180 Baltimore Orioles 4,030,228 Cleveland Indians 2,065,496 Atlanta Braves 1,299,957 Florida Marlins 139,607 1998: Baltimore Orioles 3,138,621 Boston Red Sox 2,184,734 New York Yankees 684,390 Atlanta Braves 495,625 Los Angeles Dodgers 49,593 1999: New York Yankees 4,804,081 Baltimore Orioles 3,475,048 Los Angeles Dodgers 2,663,079 New York Mets 1,137,992 Boston Red Sox 21,226 SOURCES: Los Angeles Times, Dec 26, 1997, p.
Congress doubled the excise tax on beer in 1990 as part of a package of luxury taxes intended to help pay down the deficit.