calculating taxes

[already]

Hi,

I have to calculate taxes on an amount of 283000 euro and for furter use as template

3% on the first 50.000 euro
9% till 250.000 euro
27% above 250.000 euro

What is the best formula to use for this.

Thanks in advance

Kind reagrds

Al

 

[mgm05267]

Hi...

Hope this will help.....

A B
50 0.03
200 0.09
=283000-250 0.27
=SUM(A1:A3) =(A1*B1)+(A2*B2)+((A4-250)*B3)

 

[circledchicken]

Hi,

Another alternative might be to set-up something like below:

Excel Workbook
	A	B	C
1	Bracket	Rate	Amount Split
2	50000	3%	50000
3	250000	9%	200000
4	>250000	27%	33000
5
6	Amount	283000
7	Tax	28410
Sheet1

Excel 2010

Cell Formulas
Range	Formula
C2	=IF(B6>A2,A2,B6)
C3	=IF(B6>A3,A3-A2,B6-C2)
C4	=IF(B6>A3,B6-A3,0)
B7	=SUMPRODUCT(B2:B4,C2:C4)

 

[circledchicken]

Or maybe this array formula (you need to confirm it with Ctrl-Shift-Enter not just Enter):

Excel Workbook
	A	B
1	Rate	Bracket
2	3%	0
3	9%	50000
4	27%	250000
5	Amount	283000
6	Tax	28410
Sheet1

Excel 2010

#VALUE!

Entered with Ctrl+Shift+Enter. If entered correctly, Excel will surround with curly braces {}.

 

[already]

Hi All,

Thanks for your help!

Best regards

Al