Sliding Tax Function

Jun 22, 2007

I want to make a function via macro to calculate tax During search I have found a code but the result is not coming correctly.

Tax rate is:

Upto 110000 > 0%

More than 110000 but less than 150000 > 10%

More than 150000 but less than 250000 > 4000 + 20%

Above 250000 > 24000 + 30%

For checking I am providing some solution:
IncomeTax Payable
110000 > 0
130000 > 2000
150000 > 4000
160000 > 6000
250000 > 24000
490000 > 96000

The function is:

Public Function tax(income As Single)
Select Case income
Case Is <= 110000
tax = 0
Case Is <= 150000
tax = (150000 - 110000) * 0.1
Case Is <= 250000
tax = (250000 - 150000) * 0.2 + 4000
Case Else
tax = (income - 250000) * 0.3 + 24000
End Select
End Function

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