surtax
/ˈsɜrˌtæks/
noun
- An additional tax on something that is already taxed, especially a higher rate of income tax for people with very high incomes.
- We had to pay a surtax on our investment earnings this year.
- Many countries use a surtax to make the tax system more progressive.
- The government introduced a surtax on luxury cars to raise revenue.
verb
- To charge an additional tax on something or someone.
- If you earn over a certain amount, the state will surtax your income.
- The city council voted to surtax large commercial properties.
- The company was surtaxed for failing to meet environmental standards.