VLOOKUP

  • Thread starter Thread starter Jeffrey
  • Start date Start date
J

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
 
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
 
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