2015 Progressive Tax Formula

Help! I can't, for the life of me, decipher the excel formula from McGimpsey. I'm not getting the proper "tax liability" cost in my Excel sheet.

I'm looking to build a form that will give me the total tax amount, given these marginal rates:
Min / Max / Tax Rate
$0.00 / $9,225.00/ 10.0%
$9,226.00 / $37,450.00 / 15.0%
$37,451.00 / $90,750.00 / 25.0%
$90,751.00 / $189,300.00 / 28.0%
$189,301.00 / $411,500.00 / 33.0%
$411,501.00 / $413,200.00 / 35.0%
$413,201.00 / $9,999,999.00 / 39.6%

So, if cell A1 = $50,000, then expected result should be $8,293.75 (sum of 922.5 + 4233.75 + 3137.5)
or
A1 = $100,000, the expected result should be $21,071.25 (sum of 922.5 + 4233.75 + 13325 + 2590)

Does the attached work correctly?

You can try this formula.
Note: I had to change the lower bounds such that there is no gap between them (i.e. 0 - 9225, 9225 - 37450, etc)

Row\Col	A	B	C	D	E
1	100,000
2	21,071.25	=SUMPRODUCT(--(A1>A5:A11)*(A1-A5:A11),(D5:D11))
3
4	Min	Max	Tax rate	Diff
5	$0	$9,225	10.00%	10.00%	=C5
6	$9,225	$37,450	15.00%	5.00%	=C6-C5
7	$37,450	$90,750	25.00%	10.00%
8	$90,750	$189,300	28.00%	3.00%
9	$189,300	$411,500	33.00%	5.00%
10	$411,500	$413,200	35.00%	2.00%
11	$413,200	$9,999,999	39.60%	4.60%

Originally Posted by jjhayes

Does the attached work correctly?

@JJhayes, Hey JJ, thanks for that. Your file worked perfectly!

@quekbc, Thanks! The formula I ended up using was not as neat:

=SUMPRODUCT(--(H3>{0;9225;37450;90750;189300;411500;413200}),(H3-{0;9225;37450;90750;189300;411500;413200}),{0.1;0.05;0.1;0.03;0.05;0.02;0.046})