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surtax
[ noun sur-taks; verb sur-taks, sur-taks ]
noun
- an additional or extra tax on something already taxed.
- one of a graded series of additional taxes levied on incomes exceeding a certain amount.
verb (used with object)
- to put an additional or extra tax on; charge with a surtax.
surtax
/ ˈsɜːˌtæks /
noun
- a tax, usually highly progressive, levied on the amount by which a person's income exceeds a specific level
- an additional tax on something that has already been taxed
verb
- tr to assess for liability to surtax; charge with an extra tax
surtax
- A tax added to an existing tax. To help finance the Vietnam War , for example, Congress imposed a surtax on the federal income tax.
Word History and Origins
Example Sentences
The bill would impose a new surtax on millionaires, for example, along with new minimums on companies that under current law pay nothing in income tax to the government — even in years when those firms profit handsomely.
The Medicare surtax is collected efficiently and automatically.
Regardless, the Affordable Care Act (a.k.a. Obamacare) will impose a dividend surtax of 3.8 percent on the highest earners.
When the Affordable Care Act is fully implemented, the top rate will rise past 40%, including the new health care surtax.
Because the Democrats want to pay for it with a small surtax on the very top earners.
The Democrats want to pay for it with a 3.5 percent surtax on dollars earned over $1 million per year.
Since April 1905 a surtax of 7% has been imposed on all goods of other than French origin.
In addition, a surtax of five francs gold per bag (961⁄4 cents) was placed on every bag exported to pay carrying charges.
The Government asked for power to increase the existing surtax to 20 per cent, if needed.
What we call the normal income tax is the ordinary tax; what we call the surtax is the supertax.
Rich people, since the income tax, are officially those who pay the tax but not the surtax.
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