surtax

sur·tax | \ ˈsər-ˌtaks

How to pronounce surtax (audio)

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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 In 2009 the Mexican government imposed several billion dollars’ worth of import surtaxes on about 100 categories of goods, including Christmas trees. — François Lévêque, Quartz, "The international sustainability, economics, and history of Christmas trees, explained," 21 Dec. 2019 Supporters will also seek money from the county’s transportation surtax, approved by voters in 2018, which will raise $15.6 billion over 30 years through a penny increase in the sales tax. — Larry Barszewski, sun-sentinel.com, "A bike trail through Fort Lauderdale: 5 things we know and 5 things we don’t," 26 Nov. 2019 Under Warren’s proposals, that profit would first be taxed at the corporate rate of 35 percent, plus a 7 percent surtax for the largest corporations, leaving $58 million for the billionaire owner. — Steven Pearlstein, Washington Post, "Warren’s plans to pay for government health care aren’t courageous. They’re a cop out.," 7 Nov. 2019 Since the surtax would apply equally to all forms of wealth earned from investments—versus just income—loopholes would be nearly impossible. — Time, "Democratic Lawmakers To Unveil 'Millionaires Surtax' on Rich," 7 Nov. 2019 The vice president’s visit was said to have been canceled due to a surtax bill debate taking place on Capitol Hill in Washington, D.C. — Carol Cormaci, La Cañada Valley Sun, "La Cañada History: Artist Taro Yashima a Paradise Canyon Elementary guest in July 1959," 22 July 2019 To the relief of Connecticut’s wealthiest residents, a proposal by some Democrats to levy a 2 percent capital gains surtax wasn’t in the budget. — Martin Z. Braun, courant.com, "Connecticut budget gets mostly positive reviews from investors," 5 June 2019 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

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.

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Last Updated

29 Dec 2019

Cite this Entry

“Surtax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/surtax. Accessed 28 Feb. 2020.

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