I am working with a income statement in excel, and I need to calculate the tax rate on Net Income. I have to calculate this with both positive and negative net income, and insert this into the cell below net income. I also have to account for different tax rates.
$0–$7,500 10.0%
7,500-30,650 15.0
30,650 –74,200 25.0
74,200–154,800 28.0
154,800–336,500 33.0
336,500 and up 35.0
Any help would be greatly appreciated.