surtax


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surtax

1. a tax, usually highly progressive, levied on the amount by which a person's income exceeds a specific level
2. an additional tax on something that has already been taxed
References in periodicals archive ?
However, a large lump sum payment at the end of the 5 years could cause the higher tax rate and surtax to apply to the seller in that year - so close attention needs to be paid to the tax consequences when structuring the installment agreement.
The surtax will not apply because they have no net investment income.
8 percent surtax because Roth income does not factor into MAGI, leaving this client with a significantly smaller tax liability because they were able to avoid the Medicare surtax.
He said without a list it may be difficult to sell this surtax to voters.
THE late JL 'Sonny' Hall sent out seven winners on June 10, 1935 from his stables at Rus-sley Park in Wiltshire - namely, Mr Dean, Skipton, Majestic, Good Show, Genius, Surtax and Decorum.
authorizing counties with a population of less than 800,000 to impose the Voter-Approved Indigent Care Surtax up to the rate of 0.
The decision of the Government to impose a 5% surtax on exporters as of Aug.
In November, 1988, California voters approved the California Tobacco Tax and Health Promotion Act which increased the state surtax on cigarettes by 25 cents per pack.
They also agreed at an early stage to continue the 2% surtax levied on businesses that introduce the consolidated tax payment system.
But many companies are reluctant to do so because a 2% surtax will imposed in the first two years.