i'm just not sure about that.
this is the paragraph:
Clubs that exceed the threshold by $20 million to $40 million are also subject to a 12 percent surtax. Meanwhile, those who exceed it by more than $40 million are taxed at a 42.5 percent rate the first time and a 45 percent rate if they exceed it by more than $40 million again the following year(s).
i read this as there is no surtax if you are at $227MM. but once you hit $228 you get whacked with a 12% tax on the amount over $208MM (there is a possibility the 12% tax may be applied to the full $228). if you are $40MM over then you get hit extra hard and the tax rate is not 12% but 42.5%. 2 years in a row $40mm over and that rate goes to 45%.
i think more research is needed.
we need sam kennedy to chime in on this one.