MAX(...)*0.2+MAX(...)*0.05
Two tier tax calculation
Used Functions
Category: Statistical
Returns the maximum value in a list of arguments
Syntax
MAX(number1, [number2], ...)
Category: Statistical
Returns the maximum value in a list of arguments
MAX(number1, [number2], ...)
Practice MAX Formula at Sheetzoom
MAX formula at Microsoft help
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For the first 12000, the tax is 0.2, for the rest, the Tax is 0.25