basic formula help

s2mcpaul

New Member
Joined
Oct 13, 2006
Messages
11
I need help with a formula. I will be greatful for assistance.

It is for tax brackets.

I have a value an income amount, and based upon the amount it will fall into a particular tax bracket.


This is a very simple example:
Consider each of the brackets (below) have a corresponding interest rate.
If the income is $1000 I would want it to skip bracket 1 and give me a calculation for the rate in bracket 2. If 2000, skip 1,2 and calculate 3.


1) $154 440
2) $440 1308
3) $1,308 2440
4) $2,440 3759
5) $3,759 6607
6) $6,607

If someone could give me the formula with a little description it would be very beneficial to me.

Thanks.
 

Excel Facts

What did Pito Salas invent?
Pito Salas, working for Lotus, popularized what would become to be pivot tables. It was released as Lotus Improv in 1989.

Forum statistics

Threads
1,140,937
Messages
5,703,260
Members
421,289
Latest member
fbohlandt

We've detected that you are using an adblocker.

We have a great community of people providing Excel help here, but the hosting costs are enormous. You can help keep this site running by allowing ads on MrExcel.com.
Allow Ads at MrExcel

Which adblocker are you using?

Disable AdBlock

Follow these easy steps to disable AdBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the icon in the browser’s toolbar.
2)Click on the "Pause on this site" option.
Go back

Disable AdBlock Plus

Follow these easy steps to disable AdBlock Plus

1)Click on the icon in the browser’s toolbar.
2)Click on the toggle to disable it for "mrexcel.com".
Go back

Disable uBlock Origin

Follow these easy steps to disable uBlock Origin

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back

Disable uBlock

Follow these easy steps to disable uBlock

1)Click on the icon in the browser’s toolbar.
2)Click on the "Power" button.
3)Click on the "Refresh" button.
Go back
Top