Excise (verb)

1. Remove (something) by cutting it out.
2. Levy an excise (a tax) on (goods or a particular type of goods).

Origin:

Late middle english (in the sense "cut out"): from latin excidere, from ex- "out" + caedere "cut".

Examples:

1. The surgeon excised the tumor.
2. The government decided to excise taxes on tobacco products.
3. The government excised the duty on certain imported goods.
4. The company excised the non-performing divisions.
5. The editor excised several paragraphs from the manuscript.