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What (who) is excess profits tax - definition
Excess profits tax
TAX ON ANY PROFIT ABOVE A CERTAIN AMOUNT
Excess Profits Tax of 1950; Excess-Profits Tax; Excess profit tax; Excess profits
In the United States, an excess profits tax is a tax on any profit above a certain amount. A predominantly wartime fiscal instrument, the tax was designed primarily to capture wartime profits that exceeded normal peacetime profits to prevent perverse incentives for manufacturers to engage in war profiteering and warmongering.
Windfall tax
HIGHER TAX RATE ON PROFITS THAT RESULT FROM A SUDDEN WINDFALL GAIN
Windfall Profits Tax; Windfall profit tax; Windfall tax (Australia); Windfall tax (disambiguation); Crude Oil Windfall Profits Tax Act; Windfall profits tax
A windfall tax is a higher tax rate on profits that result from a sudden windfall gain to a particular company or industry, often as the result of a geo-political disturbance, war or natural disaster that creates unusual spikes in demand and/or interruptions to supply.
Windfall profits tax
HIGHER TAX RATE ON PROFITS THAT RESULT FROM A SUDDEN WINDFALL GAIN
Windfall Profits Tax; Windfall profit tax; Windfall tax (Australia); Windfall tax (disambiguation); Crude Oil Windfall Profits Tax Act; Windfall profits tax
A windfall profits tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry.
Examples of use of excess profits tax
1. Clinton said she plans to introduce legislation to create a strategic energy fund, largely paid for by an excess profits tax on big oil companies, who she noted earned a combined $113 billion in profits last year.