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mford73
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Joined 6 years ago
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Re: Need a formula!
mtarler I'm attaching a sample file. Can you show me how to input the formula in the February and March State Unemployment Tax Owed fields? I gave it a shot, but came up with $64 in February and $64 in March, when March should be $26. I'm thinking my problem is with the cumulative part. Maybe? Thanks so much!1.3KViews0likes2CommentsNeed a formula!
I am trying to budget the state unemployment tax owed on an employee's wages by month, with the calculation stopping at a max amount of 7,700 in wages. So, the first 7,700 in wages earned in the year will be taxed at 2%, but once the wages earned reach $7,700, the calculation stops. For example, if an employee earns $3,200 in January, the tax amount for Jan. will be $64. Then, the employee earns $3,200 in February, and the tax amount will be $64. When the employee earns $3,200 in March, only $1,300 of the $3,200 is taxable. ($3,200 + $3,200 + $1,300)=$7,700 (max taxable wages) How can I set up a formula that will stop calculating once the wages meet the max?1.4KViews0likes4Comments
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