Surtax


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Surtax

A tax added to the normal tax paid by corporations or individuals who have earned income above a certain level.

Surtax

An additional tax placed on a person or corporation on a tax liability. For example, a government may calculate one's tax liability and simply add, say, 5% to it. Surtaxes are often politically unpopular. A surtax is also called a supertax.
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Because the highest tax bracket for a trust is $11,950 in 2013, the net investment income subject to the surtax is $438,050 ($450,000-$11,950).
Rossman estimated that a 3 percent surtax on local property taxes, after subtracting the first $100,000 of assessed value, would cost residents about $41 annually under the CPA plan.
maintain the consolidated taxation mechanism would raise their tax burdens due to the surtax introduced by the Finance Ministry to avert a decrease in tax revenues.
Editorial carries analysis of both the income and transfer tax principles, both of which include the "Repeal" changes in the IRS Code made by EGTRRA, as well as sample clauses for equalization-of-rates marital deductions, zero-tax marital deducations, generation-skipping exemptions, and surtax avoidance plans.
But for companies that adopt it for two years, the system will be accompanied by a 2% surtax to make up for a projected 800 billion yen revenue fall resulting from introducing the new tax system.
3 per cent by 2003 from 37 per cent, by scrapping a 10 per cent surtax introduced by the country's previous conservative administration.
California, which funds anti-smoking commercials with the proceeds of a 25-cent cigarette surtax passed in 1988, has led the way in this area.
Until The World Bank intervened, Mozambique protected its cashew industry, which included a number of processing plants, by means of a surtax on the export of raw, unprocessed cashews to India.
The book includes sample clauses for equalization-of-rates marital deduction, zero-tax marital deduction, generation-skipping exemption, and surtax avoidance prototype plans.
The 9 percent church surtax on the federal income taxes of all registered Protestants, Catholics, and Jews in that country yielded about $11 billion in 1996.