Please, am trying to compute the taxes due using the IF function
The idea is that when I get to the Taxable Income of an individual, the next column should be tax due, which I want automated…
But because there are many rates, for different income earners, this is the formula I used
=IF(f4<300000, max(E4*0.01, F4*0.07, if(f4>=300000, (f4-300000)*0.11+21000, if(f4>=600000, (f4-600000)*0.15+54000))))…
The formula continues but I will stop there..
The problem is that if f4<300000, it will use the first expression which will be correct but if f4>=300000, it will give a false answer.. it is like it has been configured to make use only of the first expression and the rest, will not be functionally used where the need arises..
Also, say the first expression wasn’t there and the formula began with if(f4>=300000, (f4-300000)*0.11+21000 and so on, it replicates the above mentioned problem in another way… This time, if I require it to make use of the second expression of greater than 600000, it will use the percentage of the first, that is .11 in calculating instead of the percentage it was commanded to, 0.15
If you seek clarity, I will provide…