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#1
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Calculation Question
I have to calculate total tax based on a graduated scale. Let's say I make
$15,000 (in cell A1) and I want to calculate tax in one cell (in cell B1). The tax rate is such that the first $1,000 is at 0%, the next $2,000 at 10%, the next $3,000 at 20%, and then anything higher than $6,000 at 25%. What would the formula look like in cell B1 to calculate the tax expense of $3,050. Thanks, Scott |
#2
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Calculation Question
Scott,
Try this =SUMPRODUCT(--(A1{1000;3000;6000}), (A1-{1000;3000;6000}), {0.1;0.1;0.05}) Allin one line if it line wraps -- Mike When competing hypotheses are otherwise equal, adopt the hypothesis that introduces the fewest assumptions while still sufficiently answering the question. "Scott" wrote: I have to calculate total tax based on a graduated scale. Let's say I make $15,000 (in cell A1) and I want to calculate tax in one cell (in cell B1). The tax rate is such that the first $1,000 is at 0%, the next $2,000 at 10%, the next $3,000 at 20%, and then anything higher than $6,000 at 25%. What would the formula look like in cell B1 to calculate the tax expense of $3,050. Thanks, Scott |
#3
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Calculation Question
Hi,
You may refer to this article which I authored 6 years ago - http://ashishmathur.com/articles.aspx. Kindly refer to the first article under PC Quest -- Regards, Ashish Mathur Microsoft Excel MVP "Scott" wrote in message ... I have to calculate total tax based on a graduated scale. Let's say I make $15,000 (in cell A1) and I want to calculate tax in one cell (in cell B1). The tax rate is such that the first $1,000 is at 0%, the next $2,000 at 10%, the next $3,000 at 20%, and then anything higher than $6,000 at 25%. What would the formula look like in cell B1 to calculate the tax expense of $3,050. Thanks, Scott |
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