surtax

noun
sur·​tax | \ ˈsər-ˌtaks How to pronounce surtax (audio) \

Definition of surtax

1 : an extra tax or charge
2 : a graduated income tax in addition to the normal income tax imposed on the amount by which one's net income exceeds a specified sum

Examples of surtax in a Sentence

Recent Examples on the Web Judge John Hannah hewed to the letter of the law in reviewing the surtax. The Editorial Board, WSJ, 15 Mar. 2022 Banks and insurers will also pay a one-time 15% surtax on income above C$1 billion for the 2021 tax year. Theophilos Argitis, Bloomberg.com, 7 Apr. 2022 This one would only levy a surtax on incomes—rather than the unrealized gains—of the ultra-rich. Giacomo Tognini, Forbes, 29 Oct. 2021 Congress also introduces the first 1040 form and levies a 1% tax on personal incomes over $3,000 with 6% surtax on incomes of more than $500,000. CNN, 1 Apr. 2022 The bill would create a new surtax on multimillionaires and billionaires and close a provision that allows some wealthy taxpayers to avoid paying the 3.8% Medicare tax on their earnings. BostonGlobe.com, 4 Nov. 2021 Congress then stuck those 65 and over with incomes above $35,000 with a new surtax to pay for benefits that many of them already had through private retirement plans. New York Times, 14 Oct. 2021 Democrats crafted a series of tax increases, including a corporate minimum tax and a surtax on very-high earners, last year with her support. Richard Rubin And Andrew Duehren, WSJ, 4 Mar. 2022 An additional progressive surtax would start at 0.5% on income over $149,509 and rise to 2.5% at $2,484,121. The Editorial Board, WSJ, 10 Jan. 2022 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'surtax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of surtax

1881, in the meaning defined at sense 1

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Dictionary Entries Near surtax

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surtax

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Statistics for surtax

Last Updated

15 May 2022

Cite this Entry

“Surtax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/surtax. Accessed 22 May. 2022.

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More Definitions for surtax

surtax

noun
sur·​tax | \ ˈsər-ˌtaks How to pronounce surtax (audio) \

Legal Definition of surtax

: an additional tax over and above a normal tax

More from Merriam-Webster on surtax

Thesaurus: All synonyms and antonyms for surtax

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