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Stan Brown Stan Brown is offline
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Default Federal tax withholding calculations - using IF statements..?

Sun, 8 Jul 2007 15:56:01 -0700 from clintjjohnson
:

Now...how do I pull these all together into one statment that will look at
the gross income figure in cell D6 and produce the correct withholding figure
in another cell? (I currently use Excel 2000.)


You *could* do it with an if statement, but I wouldn't. Instead, set
up the withholding table in three columns (min income, fixed dollars
to withhold, percent above min to withhold) and then use VLOOKUP.

Assuming the income figure is in D6, this formula will do it:

ROUND(VLOOKUP(D6,FederalTaxBrackets,3,TRUE)+VLOOKU P
(D6,FederalTaxBrackets,2,TRUE)*(D6-VLOOKUP
(D6,FederalTaxBrackets,1,TRUE)),2)

where FederalTaxBrackets is the named range that includes the table I
mentioned above.

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Stan Brown, Oak Road Systems, Tompkins County, New York, USA
http://OakRoadSystems.com/