VLOOKUP

[Jeffrey]

I have a chart with

Tax Bracet Tax Base Tax on Base Tax Rate
Up to $14,000 $- $- 10%
$14,000 - $56,800 $14,000.00 $1,400.00 15%
$56,800 - $114,000 $56,800.00 $7,820.00 25%
$114,000 - $174,700 $114,650.00 $22,282.50 28%
$174,700 - $311,950 $174,700.00 $39,096.50 33%
Over $311,950 $311,950.00 $84,389.00 35%


Taxabel Income $150,000
Tax #N/A
Average Tax Rate

I Need to find the tax amount on 150,000 using VLOOKUP and
the AVERAGE tax rate Using VLOOKUP, I keep getting #N/A
for the tax amount.

Can Anyone help?

Jeff

 

[Frank Kabel]

Hi
as i'm not so familiar with US tax schemes I'm not sure which column
you want to get. But to use VLOOKUP you may have to change the 4th
parameter. Try
=VLOOKUP(150000,$A$1:$D100,col_index,1)
You may have to adapt column A. It should store only the lower boundary
of each Tax bracet. e.g.
A B
14,000 14,000
56,800 ....
.....
otherwise VLOOKUP won't find a match