luxury tax

luxury tax

An excise tax imposed on high-priced items that are not deemed necessities (such as cars costing more than a specified amount). Cf. sin tax. [Cases: Taxation 1201.1¨C1345. C.J.S. Indians ¡ì 131; Steam¡ì 4; Taxation ¡ì¡ì 1990¨C2071.]
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Carl, Chinese legal translator, specializes in translating legal documents pertaining to complex business disputes.