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surtax

   Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
sur·tax  (sûrtks)
n.
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.

surtax [ˈsɜːˌtæks]
n
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
vb
(Economics) (tr) to assess for liability to surtax; charge with an extra tax
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.surtax - an additional tax on certain kinds of income that has already been taxed
income tax - a personal tax levied on annual income
Verb1.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"
Translations
surtax [ˈsɜːtæks] Nsobreimpuesto m; (= rate) → sobretasa f
surtax [ˈsɜːrtæks] nsurtaxe f
surtax
surtax [ˈsɜːˌtæks] nsoprattassa


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The proposal, a heavily symbolic measure seen as having next to no chance of becoming law, would impose a war surtax on income beginning in 2011 -- though it would allow the president to delay implementation by one year upon deciding the US economy is too weak to sustain such a tax shift.
This health care overhaul will be paid for largely with a graduated income surtax on high-income households, as well as four familiar business tax provisions--including a delay in the implementation of worldwide allocation of interest, a limit in treaty benefits for certain deductible payments, codification of the economic substance doctrine and savings from within the health care system.
Can the earnest-looking gang of representatives who unveiled their proposal Tuesday say with a straight face that the health-care surtax they'd levy would actually be paid when it takes effect in 2011?
 
 
 
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