! Read this first !
Example of how to calculate personal income tax.
The information contained in this set of formulae is provided without any warrantee expressed or implied regarding its correctness or accuracy.
_
#Net income
100000
C
#Tax year
2006
N
=Tax percent
{=Tax payable} / {#Net income}
N
=Tax payable
if({#Net income}>{Income level 1},
min({#Net income}, {Income level 2}) - {Income level 1},
0
) * {Rate level 1}
+
if({#Net income}>{Income level 2},
min({#Net income}, {Income level 3}) - {Income level 2},
0
) * {Rate level 2}
+
if({#Net income}>{Income level 3},
min({#Net income}, {Income level 4}) - {Income level 3},
0
) * {Rate level 3}
+
if({#Net income}>{Income level 4},
{#Net income} - {Income level 4},
0
) * {Rate level 4}
C
Income level 1
choose({#Tax year},
2005, 6000,
2006, 6000,
2007, 6000,
2008, 6000
)
C
Income level 2
choose({#Tax year},
2005, 21600,
2006, 25000,
2007, 30000,
2008, 30000
)
C
Income level 3
choose({#Tax year},
2005, 63000,
2006, 75000,
2007, 75000,
2008, 80000
)
C
Income level 4
choose({#Tax year},
2005, 95000,
2006, 150000,
2007, 150000,
2008, 180000
)
C
Rate level 1
choose({#Tax year},
2005, 0.15,
2006, 0.15,
2007, 0.15,
2008, 0.15
)
N
Rate level 2
choose({#Tax year},
2005, 0.30,
2006, 0.30,
2007, 0.30,
2008, 0.30
)
N
Rate level 3
choose({#Tax year},
2005, 0.42,
2006, 0.40,
2007, 0.40,
2008, 0.40
)
N
Rate level 4
choose({#Tax year},
2005, 0.47,
2006, 0.45,
2007, 0.45,
2008, 0.45
)
N