# Excel/FORMULA QUERY

Question
QUESTION: I need a formula for the following

2015 TAXable earnings   Yearly
1.50%   UP_TO   €12,012.00
3.50%   OVER  €12,012     UP_TO   €17,576.00
7.00%   OVER €17,576.00      UP_TO   €70,044.00
8.00%   ALL  SALARY   OVER   €70,044.00
I would be most gratefull if you could e-mail me a formula for same
The Tax due should be  €9644.16 if ones salary was  €140,000
regards  Alex
you may use = IF...... I am paid Forthnightly so it must be Divided by 26
looking forward to hearing from you this week end
Regards  Alex

Alex,

Assume your salary is in cell L3, then this should calculate the total tax due:

=((MIN(12012,L3))*0.015)+(MAX(MIN(5564,L3-12012),0)*0.035)+(MAX(MIN(52468,L3-17576),0)*0.07)+(MAX(0,L3-70044)*0.08)

if you want it divided by 26 then it would be

=(((MIN(12012,L3))*0.015)+(MAX(MIN(5564,L3-12012),0)*0.035)+(MAX(MIN(52468,L3-17576),0)*0.07)+(MAX(0,L3-70044)*0.08))/26

replace the L3 in the formula to refer to the cell with your salary.

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Regards,
Tom Ogilvy

This topic answers questions related to Microsoft Excel spreadsheet (or workbook) stand-alone or Mircrosoft Office Excel including Excel 2003, Excel 2007, Office 2000, and Office XP. You can get Excel help on Excel formulas(or functions), Excell macros, charting in Excel, advanced features, and the general use of Excel. This does not provide a general Excel tutorial nor the basics of using a spreadsheet. It provides specific answers to using Microsoft Excel only. If you do not see your Excel question answered in this area then please ask an Excel question here

#### Tom Ogilvy

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Selected as an Excel MVP by Microsoft since 1999. Answering Excel questions in Allexperts since its inception in 2001. Able to answer questions on almost all aspects of Excel's internal capabilities. If seeking a VBA solution, please specify that in your question itself so I give you the answer you want. [Excel has weak protection - if you are distributing an application, I don't answer questions on how to protect your project from your users.]

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Extensive experience.

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Master of Science (MS) degree Operations Research (ORSA)

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Microsoft MVP in Excel.