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calculating tax..

  1. #1
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    calculating tax..

    I need to calculate tax based on different tax bands.. tax bands are first 160K for singles and 200K for couple taxed at 1%, and then second 100K for both at 15% and rest above 260K for singles and 300K for couple taxed at 25%, how do I do it? I am novice in excel.
    I have attached the spreadsheet, blue coloured cells refer to my query.

    many thanks,
    Attached Files Attached Files

  2. #2
    Forum Guru DonkeyOte's Avatar
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    Re: calculating tax..

    Large parts aren't clear but in general terms for a calculation with only a handful of tiers:

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    However, if you have more than a few tiers a SUMPRODUCT is generally useful.

    Given the single/couple split it would make sense to create a reference table - using your file:

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    With the above in place:

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  3. #3
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    Re: calculating tax..

    Thank you very much mate... That solved my issue..

    Cheerio...

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