surtax

American  

[sur-taks, sur-taks, sur-taks] / ˈsɜrˌtæks, ˈsɜrˌtæks, sɜrˈtæks /

noun

1. an additional or extra tax on something already taxed.

2. one of a graded series of additional taxes levied on incomes exceeding a certain amount.

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verb (used with object)

1. to put an additional or extra tax on; charge with a surtax.

surtax British  

/ ˈsɜːˌtæks /

noun

1. a tax, usually highly progressive, levied on the amount by which a person's income exceeds a specific level

2. an additional tax on something that has already been taxed

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verb

1. (tr) to assess for liability to surtax; charge with an extra tax

surtax Cultural  

1. A tax added to an existing tax. To help finance the Vietnam War, for example, Congress imposed a surtax on the federal income tax.

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Etymology

Origin of surtax

1880–85; sur- ¹ + tax; supertax, French surtaxe

Example Sentences

It could also raise the 3.8% surtax on net investment income.

From The Wall Street Journal

Supermarket bosses highlighted that part of the government's business rates reforms posed a problem for the industry, in particular the so-called business rates surtax, which is being levied on all large commercial premises.

From BBC

Payroll taxes paid by employers are rising not only to cover payouts to unemployed workers but also a state surcharge and a gradually increasing federal surtax to help pay off the principal on the debt.

From Los Angeles Times

Japan would adopt a corporate surtax of 4%-4.5% with a deduction of 5 million yen for small firms, while adopting surtax of 1% on incomes for the time being.

From Reuters

Also the amount over the set threshold limit is subject to a surtax.

From Seattle Times

Related Words

• expense
• payment
• tax