surtax
noun
sur·tax
ˈsər-ˌtaks 
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
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The plans will see the top marginal income rate raised to 39.6 percent, from the current 37 percent, and the rate on two Medicare surtaxes increased from 3.8 percent to 5 percent for those earning more than $400,000.
—
Thomas G. Moukawsher, Newsweek, 5 Nov. 2024
Illinois In Illinois, voters will consider a proposal to create a 3% surtax on income over $1 million.
—Kelly Phillips Erb, Forbes, 29 Oct. 2024
Walz accomplished his tax cuts for families and seniors by limiting the amount of standard or itemized deductions that high-income filers could claim, as well as reducing a deduction for dividend income and creating a surtax on capital gains income, the Tax Policy Center notes.
—Aimee Picchi, CBS News, 30 Sep. 2024
One of the fights was over a 1% surtax that applies to passive investment income in excess of $1 million.
—Brian Schwartz, CNBC, 13 Aug. 2024
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Thomas G. Moukawsher, Newsweek, 5 Nov. 2024
Illinois In Illinois, voters will consider a proposal to create a 3% surtax on income over $1 million.
—Kelly Phillips Erb, Forbes, 29 Oct. 2024
Walz accomplished his tax cuts for families and seniors by limiting the amount of standard or itemized deductions that high-income filers could claim, as well as reducing a deduction for dividend income and creating a surtax on capital gains income, the Tax Policy Center notes.
—Aimee Picchi, CBS News, 30 Sep. 2024
One of the fights was over a 1% surtax that applies to passive investment income in excess of $1 million.
—Brian Schwartz, CNBC, 13 Aug. 2024
See all Example Sentences for surtax
Dictionary Entries Near surtax
Cite this Entry
“Surtax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/surtax. Accessed 26 Nov. 2024.
Copy CitationKids Definition
surtax
noun
sur·tax
ˈsər-ˌtaks
: an additional tax over and above a general tax
Legal Definition
surtax
noun
sur·tax
ˈsər-ˌtaks
: an additional tax over and above a normal tax
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