Estate tax in the United States maximum allowable credit is $2 million for that year, so the taxable value is therefore $1.5 million. Since it is 2006, the tax rate on that $1.5 million is 46%, so the total taxes paid would be $690,000. Each beneficiary will receive $1,000,000 of untaxed inheritance and $405,000 from the taxable portion of their inheritance for a total of $1,405,000. This means the estate would have paid a taxable rate of 19.7%. As shown, the 2001 tax act would have repealed the estate tax for one year (2010) and would then have readjusted it in 2011 to the year 2002
Excise tax in the United States impose a 40% "Cadillac tax" on expensive employer sponsored health insurance but that was postponed until 2018. Annual excise taxes totaling $3 billion were levied on importers and manufacturers of prescription drugs. An excise tax of 2.32% on medical devices and a 10% excise tax on indoor tanning services were applied as well. Excise taxes on tobacco raised $14.5 billion in fiscal year 2015. The tax equals about $1 per 20 pack of cigarettes. Excise taxes on alcoholic beverages raised $9.6 billion in fiscal year 2015. The U.S. Constitution, ratified in 1789, gave the federal government authority to tax, stating