1 [n. ek-sahyz, -sahys; v. ek-sahyz, ik-sahyz]
an internal tax or duty on certain commodities, as liquor or tobacco, levied on their manufacture, sale, or consumption within the country.
a tax levied for a license to carry on certain employments, pursue certain sports, etc.
British. the branch of the civil service that collects excise taxes.
verb (used with object), excised, excising.
to impose an excise on.

1485–95; apparently < Middle Dutch excijs, variant of accijs < Medieval Latin accīsa tax, literally, a cut, noun use of feminine past participle of Latin accīdere to cut into, equivalent to ac- ac- + cīd-, variant stem of caedere to cut + -ta feminine past participle suffix, with dt > s

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2 [ik-sahyz]
verb (used with object), excised, excising.
to expunge, as a passage or sentence, from a text.
to cut out or off, as a tumor.

1570–80; < Latin excīsus cut out, hewn down, past participle of excīdere to excide

excisable, adjective
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
1.  Also called: excise tax a tax on goods, such as spirits, produced for the home market
2.  a tax paid for a licence to carry out various trades, sports, etc
3.  (Brit) that section of the government service responsible for the collection of excise, now the Board of Customs and Excise
[C15: probably from Middle Dutch excijs, probably from Old French assise a sitting, assessment, from Latin assidēre to sit beside, assist in judging, from sedēre to sit]

excise2 (ɪkˈsaɪz)
1.  to delete (a passage, sentence, etc); expunge
2.  to remove (an organ, structure, or part) surgically
[C16: from Latin excīdere to cut down; see excide]

Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History

"tax on goods," late 15c., from M.Du. excijs, apparently altered from accijs "tax" (by influence of L. excisus "cut out or removed," see excise (v.)), traditionally from O.Fr. acceis "tax, assessment," from V.L. *accensum, ultimately from L. ad- "to" + census "tax, census."
English got the word, and the idea for the tax, from Holland.

"cut out," late 15c. (implied in excision), from M.Fr. exciser, from L. excisus, pp. of excidere "cut out, removed." Related: Excised; excising.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Medical Dictionary

excise ex·cise (ĭk-sīz')
v. ex·cised, ex·cis·ing, ex·cis·es
To remove by cutting.

The American Heritage® Stedman's Medical Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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Example sentences
These show how pitilessly the poet excised every stanza which did not minister
  to the congruity of his masterpiece.
First, the excised skin is bathed in an enzyme solution that separates its
  cells from one another.
All six of the excised lymph nodes were malignant, a bad sign.
However, they also excised obsolete or particularly archaic words and usages.
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