Problem with "IF" function

[Level_Up_Plus]

Hello,

I would like to calculate the income tax for Greece, which from zero euros to €12,000 has a rate of 15%, from €12,001 to €35,000 has a rate of 35% and from €35,001 and above has a rate of 45%.

Example :
- for an amount of €14,700 the income tax is €2,745
- for an amount of 37,000 the income tax is €10,750

I wrote the function:
=IF(A1<=12000, A1*0.15, IF(A1<=35000, 12000*0.15 + (A1-12000)*0.35, 12000*0.15 + 23000*0.35 + (A1-35000)*0.45))

but it gives me an error.

Can you help me?

[#2 · Accepted solution]

@Level_Up_Plus See if you use the attached example for your calculations.

Note that it uses named ranges to avoid direct cell references.

[#3]

Thank you very much for the help.
The function you sent me works fine...
Thank you