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[email protected] joeu2004@hotmail.com is offline
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Default formula for taxes

Terri wrote:
In need a formula that will figure out someon'es federal taxwithholding on a
person weekly payroll:
Example:
B4 is total wages per week (with overtime included), C4 is % of what they
should pay and D4 is the extra amount they should take out for there
exemptions.any help would be appriciated.


Sigh, I do not see the lengthy (and informative, I hope) response that
I posted 6-7 hours ago. Of course, these things happen; just have to
wait and see. Rather than recreate the entire response, I will simply
ask this critical question....

US federal withholding does not work like you describe. You do not
withhold a fixed percentage; and the "exemption" is not an "extra
amount to take out", but an amount __less__ to withhold -- that is, a
reduction of withholding.

Are you asking about __US__ federal income taxes, or are you asking
about another country's "federal" taxes?