Nested IF

[YJ .]

Hi,

Excel returned me an error saying I have too many arguments, can someone kindly rectify the error? I need to get the tax payable from the rate here.

My formula is as follow:

=if(x<=20000,0,if(and(x>20000,x<=30000),(x-20000)*0.02),if(and(x>30000,x<=40000),200+(x-30000)*0.035),if(and(x>40000,x<=80000),550+(x-40000)*0.07),if(and(x>80000,x<=120000),3350+(x-80000)*0.115),if(and(x>120000,x<=160000),7950+(x-120000)*0.15),if(and(x>160000,x<=200000),13950+(x-160000)*0.18),if(and(x>200000,x<=240000),21150+(x-200000)*0.19),if(and(x>240000,x<=280000),28750+(x-240000)*0.195),if(and(x>280000,x<=320000),36550+(x-280000)*0.2),if(x>320000,44550+(x-320000)*0.22)

I understand macro is easier, but I have no idea about macro at all.

TIA.

[#2]

I think this is similar to your question.

https://techcommunity.microsoft.com/t5/Formulas-and-Functions/IF-function-question/m-p/152187#M3259

[#3]

IMHO, instead of hardcoded nested IF or like better to use the table with tax rates and lookup on it, one of samples https://www.excel-university.com/income-tax-formula/