surtax

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noun sur·tax \ ˈsər-ˌtaks \

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

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Recent Examples of surtax from the Web

The revised Senate GOP health-care measure released Thursday keeps Obamacare’s 3.8 percent tax on net investment income and a 0.9 percent Medicare surtax, both affecting families who earn at least $250,000 a year.

— sahil kapur, Bloomberg.com, "GOP May Revive Push to Eliminate Obamacare Taxes on the Wealthy," 13 July 2017
What drives the story is repealing high-income surtaxes and reducing Medicaid.

— stephen ohlemacher, The Seattle Times, "GOP health bill: Benefit cuts for poor, tax cuts for rich," 11 July 2017
Johnson said, noting out a 3.8% surtax on investment income that could be left in place.

— josh hafner, USA TODAY, "OnPolitics Today: Trump spends time insulting woman instead of, oh I don't know, doing job," 29 June 2017
Among the Obamacare tax increases that would be repealed are a 3.8 percent investment income tax and a 0.9 percent Medicare surtax.

— steven t. dennis, Bloomberg.com, "Four GOP Senators Spurn Health Plan Aimed at Unifying Party," 22 June 2017
The bill would repeal provisions of the Affordable Care Act that increased the payroll tax rate for many high-income taxpayers and imposed a surtax on their net investment income.

— robert pear, New York Times, "G.O.P. Health Bill Would Leave 23 Million More Uninsured in a Decade, C.B.O. Says," 24 May 2017
The repeal of the surtax would be immediate, as opposed to being phased out in the coming years.

— martha c. white, NBC News, "Billionaire Investor Buffett Says ‘Guys Like Me’ Benefit Most from Trumpcare," 8 May 2017
President Trump’s proposal to slash individual and business taxes and erase a surtax that funds the Affordable Care Act would amount to a multitrillion-dollar shift from federal coffers to America’s richest families and their heirs . . .

— william mcgurn, WSJ, "It’s the Prosperity, Stupid," 1 May 2017
TORONTO—Authorities in the province of Ontario unveiled more than a dozen measures meant to curb skyrocketing house-price gains in the Toronto region, highlighted by a surtax targeting foreign buyers.

— paul vieira, WSJ, "Ontario Takes Steps in Bid to Calm Housing Market," 20 Apr. 2017

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

SURTAX Defined for English Language Learners

surtax

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noun

Definition of surtax for English Language Learners

: 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

Law Dictionary

surtax

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noun sur·tax \ ˈsər-ˌtaks \

legal Definition of surtax

:an additional tax over and above a normal tax

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surtax

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surtax

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