#1
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Better formula to compute Tax from Compensation other than nested IFs
Hi everyone. This is my formula in computing the tax due from each employee based on the attached tax table. Is there a neater way of coming up with the same results without the so many nested IFs?
=IF(NetTaxInc>8000000,(2410000+0.35*(NetTaxInc-8000000)), IF(NetTaxInc>2000000,(490000+0.32*(NetTaxInc-2000000)), IF(NetTaxInc>800000,(130000+0.3*(NetTaxInc-800000)), IF(NetTaxInc>400000,(30000+0.25*(NetTaxInc-400000)), IF(NetTaxInc>250000,(0.2*(NetTaxInc-250000)) IF(NetTaxInc<=250000,0)))))) Thank you. BTW the amounts are in Pesos currency not Dollars. |
#2
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#3
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I wish
I have used index/match a few times but in very simple problems. I will now change the more than a decade old If/then formula to a smarter one. Thank you again. Attached are the very happy beneficiaries of your generosity. |
#4
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Incorporate Vlookup(). The link below explains it well
Tax Rates in Excel - Easy Excel Tutorial |
#5
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Thank you Steve. Vlookup would have been simpler to use but for the presence of the plus 30000, 140000 if taxable income is... in the formula.
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