Thread: Income Tax
View Single Post
  #1   Report Post  
Posted to microsoft.public.excel.worksheet.functions
Scoober Scoober is offline
external usenet poster
 
Posts: 82
Default Income Tax

Hi All,

Can someone come up with a formula on how to work out how much tax is paid
on a person's income.

Tax rates are as follows

$0 - $14,000 = 12.5%

$14,000 - $48,000 = 21%

$48,000 - $70,000 = 33%

$70,000+ = 38%

E30 = Income

J30 = Target Cell

I have no idea how to attack this so can even offer a formula that does not
work!!


--
Thanks in advance.

Scoober