1. To cut out; to remove by surgery.
2. To remove the clitoris by surgery.
3. To lay or impose an excise tax upon.
4. To impose upon; to overcharge.

ETYM Apparently from Latin excisum cut off, from excidere to cut out or off.
A tax that is measured by the amount of business done (not on property or income from real estate); SYN. excise tax.
Taxes imposed on goods, usually considered luxury items or those items quickly consumed. The taxes are paid prior to sale, the cost being passed on to the consumer.
Among the most common excise taxes in the US are those on cigarettes, gasoline, and alcohol.