perla1962
asked on
VLOOKUP Excel 2010
Hi,
You guys please help me out, I have an issue with VLOOKUP. I need to compute the income tax based upon the following schedule.
If gross pay <5,000, the tax rate is 15%.
If gross pay <7,000, the tax rate is 20%.
If gross pay <10,000, the tax rate is 25%.
Otherwise, the tax rate is 28%.
Employee ID Dept Gross Pay Income Tax
92-5601 HR 3,000
77-3407 IT 5,000
66-1000 ACCTG 15,000
77-3410 FINANCE 14,000
95-6688 IT 7,000
99-8989 HR 4,000
TOTAL $ 48,000 $ -
You guys please help me out, I have an issue with VLOOKUP. I need to compute the income tax based upon the following schedule.
If gross pay <5,000, the tax rate is 15%.
If gross pay <7,000, the tax rate is 20%.
If gross pay <10,000, the tax rate is 25%.
Otherwise, the tax rate is 28%.
Employee ID Dept Gross Pay Income Tax
92-5601 HR 3,000
77-3407 IT 5,000
66-1000 ACCTG 15,000
77-3410 FINANCE 14,000
95-6688 IT 7,000
99-8989 HR 4,000
TOTAL $ 48,000 $ -
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ASKER
I tried but I get error message. here is the file.
LOOKUPfunctions.xlsx
LOOKUPfunctions.xlsx
I opened the attached file but did not receive any error. Please let us know the error you are receiving along with the version of EXCEL.
Regards,
Regards,
ASKER
I found the erro thank you I got it.
with the gross pay in A1
=LOOKUP(A1,{0,5000,7000,10
Adjust to suit.
cheers, teylyn