#1
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Excel Formula Help??
So I am working on this report where I have to calculate the taxes based on the Gross Profit.
I had 4 different Gross profit for 4 different Quarters. I was able to do 3 of them but not the 4th. The reason being that is because it wanted the specific thing: Taxes are 20 % of the first $12,000.00 of Gross Profit plus 25 % of any Gross Profit in excess of $12,000.00. For example, the tax on $8,000.00 would be $1,600.00, while the tax on $15,000.00 would be $2,4000.00 + $750.00 = $3,150.00. I have to do that and create a Formula but I am having difficulty trying to find the right formula. So Far I have come up with different Formulas but Doesn't Work. If you can help me find the formula it would be really appreciated. This is the Total gross profit and I have to calculate the Taxes Based on that. Please help me figure it out. Gross Profit: $14,190.84 What I have tried so far: =If (And(E26>=12000),E26-12000,0) Then From here I just don't know what to do. Like Please help me out as soon as possible. |
#2
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How about something like...
=IF(D24<=12000,D24*20%,IF(D24>12000,12000*20%+(D24-12000)*25%,"")) and BTW...Next time, please construct a meaningful title also, seems a cross post without links http://www.mrexcel.com/forum/excel-q...mula-help.html |
Tags |
formula, if statement |
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