income tax

Public Schedule Face-to-Face & Online Instructor-Led Training - View dates & book

Forum home » Delegate support and help forum » Microsoft Excel Training and help » Income Tax

Income Tax

resolvedResolved · Low Priority · Version 2007

Richard has attended:
Excel Intermediate course

Income Tax

someone earning 100,000 and you want to find income tax. e.g first 50,000 taxed at 5% next 25,000 taxed at 10% next 25,000 taxed at 20%. how would the formula work?? thanks

RE: Income Tax

Hi Richard,

Thank you for your question and welcome to the forum.

You would need to use a formula similar to this which included the sumproduct function and array formulas

Here is a sample formula:

=SUMPRODUCT(C2>6000,21600,58000,70000}),C2-{6000,21600,58000,70000},{0.17,0.13,0.12,0.05})

C2 being the amount of income and if c2>6000 then income - 6000 is taxed at 0.17.

I hope this helps.

Regards

Simon

Thu 9 Dec 2010: Automatically marked as resolved.

 

Training courses

 

Training information:

See also:

Welcome. Please choose your application (eg. Excel) and then post your question.

Our Microsoft Qualified trainers will then respond within 24 hours (working days).

Frequently Asked Questions
What does 'Resolved' mean?

Any suggestions, questions or comments? Please post in the Improve the forum thread.


 

Excel tip:

Changing Excel file and worksheet defaults

The appearance of any new Excel files or any new worksheets that are inserted into a file are controlled by two template files, Book.xlt and Sheet.xlt.

By opening, modifying and saving these templates you can change the default settings for all new files and/or all newly inserted sheets.

Use Book.xlt to make change to defaults for new workbooks; and Sheet.xlt to change defaults for sheets.

If you can't find either of these files on your computer, you can create and save them yourself.

You can do this simply by creating a new workbook with the setting you want to use as your defaults; then saving them with the appropriate name in the XLStart folder. If you are using Office 2003, this is usually found in C:\Program Files\Microsoft Office\Office11\XLStart.

View all Excel hints and tips


Server loaded in 0.08 secs.