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Meaning of excess-profits tax

ex'cess-prof'its tax"

Pronunciation: (ek'ses prof'its), [key]
  1. a tax on the profits of a business enterprise in excess of the average profits for a number of base years, or of a specified rate of return on capital.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.