Calculate Federal Corporate tax due in a single cell
November 22, 2011 Leave a comment
federal tax tableThis is the tax schedule…
If taxable income (line 30, Form 1120, or line 26, Form 1120-A) is:
Over- But not Over- Tax is: over-
$0 50,000 15% -0-
50,000 75,000 $ 7,500 + 25% $50,000
75,000 100,000 13,750 + 34% 75,000
100,000 335,000 22,250 + 39% 100,000
335,000 10,000,000 113,900 + 34% 335,000
10,000,000 15,000,000 3,400,000 + 35% 10,000,000
15,000,000 18,333,333 5,150,000 + 38% 15,000,000
18,333,333 35% -0-