luxury tax

American  

noun

1. a tax on certain goods or services not considered essential and usually relatively high in price.

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Etymology

Origin of luxury tax

First recorded in 1900–05

Example Sentences

In the Premier League that will be 85%, though it is possible to spend as much as 115% in the first year and pay what is in effect a luxury tax.

From BBC

Automakers have faced intense competition in China, sparking a prolonged price war, while a lengthy property market slump, economic-growth concerns in the country and a new luxury tax has also seen buyers dial back on luxury spending.

From The Wall Street Journal

The Dodgers won their second consecutive World Series last year with a star-studded roster that cost more than a half-billion dollars between payroll and luxury tax payments for those high salaries.

From The Wall Street Journal

The ban is expected to cost George about $11.7 million of his season salary and save the 76ers about $5 million in luxury tax payments under the league's salary cap system.

From Barron's

The CBT, often referred to as a "luxury tax," sets thresholds for total payroll.

From Barron's