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
Recent Examples on the Web
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
The state imposed a 1% surtax on capital gains, dividends, and other investment income that exceeds $1 million in a year.
—Max Zahn, ABC News, 8 Aug. 2024
Taxing capital gains at the same rate as ordinary income for those making more than $1 million; adopting a 4 percent surtax on income above $5 million; adopting a 1 percent surtax on corporate income above $100 million; and making wages over $400,000 subject to the payroll tax.
—Jennifer Rubin, Washington Post, 30 July 2024
See all Example Sentences for surtax 
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
The state imposed a 1% surtax on capital gains, dividends, and other investment income that exceeds $1 million in a year.
—Max Zahn, ABC News, 8 Aug. 2024
Taxing capital gains at the same rate as ordinary income for those making more than $1 million; adopting a 4 percent surtax on income above $5 million; adopting a 1 percent surtax on corporate income above $100 million; and making wages over $400,000 subject to the payroll tax.
—Jennifer Rubin, Washington Post, 30 July 2024
See all Example Sentences for surtax
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Cite this Entry
“Surtax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/surtax. Accessed 5 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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