formulas

  • Thread starter Thread starter Terry
  • Start date Start date
T

Terry

I need a formula for a tax calculation. Example - income
at 400000 with tax rates of 18.62% for the 1st 200000,
20.87% for next 100000 and 25.39% for next 100000. I want
to show the 3 separate tax amounts in different cells.
I want a formula starting from the 400000 amount in the
taxable income cell to show the following in the 3 cells.
ie:
taxable income 400000
[email protected] 32240
[email protected] 20870
[email protected] 25390
 
Hi Terry,

First off, 200000*.1862 = 37240 (32240) typo?

B1 taxable income 400000

B2 =IF(B1>=200000,200000*0.1862,B1*0.1862)

B3 =IF(B1<200000,0,IF(B1>=300000,100000*0.2087,(B1-200000)
*0.2087))

B4 =IF(B1>=300001,(B1-300000)*0.2539,0)

All amounts >400k are calculated using the 25.39 rate.
All amounts <200k are calculated using the 18.62 rate.

Biff
 
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