» Calculating Total Income Tax
CATEGORY - Excel Formula and Function
VERSION - All Microsoft Excel Versions
Problem: We want to use variable-rate Taxable Income Brackets to calculate a person's total income tax.
Solution:
Use the INDEX, MATCH, and LOOKUP functions as shown in the following formula: =INDEX(TaxTable,MATCH(C13,Bracket),3)+(INDEX(TaxTable,
MATCH(C13,Bracket)+1,2))*(C13-LOOKUP(C13,Bracket))
Book Store:
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