surtax
noun
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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
Both support a ballot question that would add a 4 percentage point surtax on household incomes greater than $1 million. — Matt Stout, BostonGlobe.com, "With few policy differences, Jay Gonzalez and Bob Massie put focus on experience," 18 May 2018 When 529 funds are used for qualified purposes, savers do not pay any federal income tax on investment gains (no capital gains tax, ordinary income tax, or Medicare surtax). — Susan Tompor, Detroit Free Press, "Here's why you should give 529 college savings plans a second look," 26 May 2018 Demand for these jobs also is being fueled by $2.7 billion in countywide infrastructure improvement projects taking place over the next decade funded by the county sales surtax initiative. — Marcia Heroux Pounds, Sun-Sentinel.com, "Construction job fair Tuesday in West Palm Beach," 11 June 2018 Both have included whiskey on their list of retaliatory surtaxes, a move that will likely decrease sales of the spirit abroad, VinePair reports. — Emily Price, Fortune, "How Trump's Steel Tariffs Could Wound the American Whiskey Industry," 4 June 2018 The infrastructure bank would also be used to provide free water to all Michiganders for basic needs, such as bathing, drinking, cooking and cleaning, with a surtax on people who use more water above and beyond the basic needs. — Kathleen Gray, Detroit Free Press, "This candidate for governor wants to be middle finger to Donald Trump," 17 May 2018 Two questions have already been certified to appear on the ballot — a constitutional amendment imposing a surtax on household income above $1 million and a referendum on the transgender antidiscrimination law passed in 2016. — Michael P. Norton, BostonGlobe.com, "Campaigns OK’d to collect final signatures for 2018 ballot initiatives," 2 May 2018 The constitutional amendment would impose a surtax of 4 percent on any portion of an individual’s annual income that exceeds $1 million. — Bob Salsberg, The Seattle Times, "High court to hear challenge to ‘millionaire tax’ question," 4 Feb. 2018 Normally, the proceeds from the sale of those assets would be taxed as a capital gain, at a maximum federal rate of 20 percent plus a 3.8 percent surtax. — Jim Tankersley, The Seattle Times, "Tax overhaul offers investors a deal to revitalize struggling corners of America," 3 Feb. 2018These 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.
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More Definitions for surtax
surtax
noun
English Language Learners Definition of surtax
: a tax that is charged on income which is more than a certain amount and that is charged in addition to the normal income tax
See the full definition for surtax in the English Language Learners Dictionary
surtax
noun
\
Legal Definition of surtax
: an additional tax over and above a normal tax
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