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1. An additional tax.
2. A tax levied on corporations or individuals after net income has exceeded a certain level.
tr.v. sur·taxed, sur·tax·ing, sur·tax·es
To levy a surtax on.
1. (Economics) a tax, usually highly progressive, levied on the amount by which a person's income exceeds a specific level
2. (Economics) an additional tax on something that has already been taxed
(Economics) (tr) to assess for liability to surtax; charge with an extra tax
sur•tax(n., v. ˈsɜrˌtæks; v. also sɜrˈtæks)
1. an additional or extra tax on something already taxed.
2. one of a graded series of additional taxes levied on incomes exceeding a certain amount.v.t.
3. to charge with a surtax.
Past participle: surtaxed
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|Noun||1.||surtax - an additional tax on certain kinds of income that has already been taxed|
income tax - a personal tax levied on annual income
|Verb||1.||surtax - levy an extra tax on; "surtax luxury items that cost more than $1,000"|
tax - levy a tax on; "The State taxes alcohol heavily"; "Clothing is not taxed in our state"