excess-profits tax

A tax levied on profits that are beyond a business’s normal profits. • This
type of tax is usu. imposed only in times of national emergency (such as war) to discourage profiteering. [Cases: Internal Revenue 4130–4136. C.J.S. Internal Revenue § 670.] excise lieu property tax.A tax on the gross premiums received and collected by designated classes of insurance companies. [Cases: Taxation 140. C.J.S. Taxation §§ 217–218.]

[Blacks Law 8th]