Problem 49875. Simple Income Tax
Income tax is the type of tax imposed on income generated by businesses or individuals. In a far away land of Plutonia, there are brackets applied when calculating income tax. The tax rate for the income below 10000 is 10%, from 10000 and below 40000 is 15%, from 40000 and below 100000 is 25%, and for those who are lucky enough to earn more than 100000, any amount beyond this magical number will be imposed a tax of 35%. Your task as an accountant is to determine the amount of tax for your clients. Please determine the amount of income tax owed by the client given her/his income.
Solution Stats
Problem Comments
-
2 Comments
Rafael S.T. Vieira
on 11 Nov 2022
Taxes and rates everywhere should be calculated in this way. Plutonia is fair and utopian because the government is not trying to rob its citizens.
Christian Schröder
on 12 Nov 2022
Germany uses this kind of system --- it's slightly more complicated but the basic idea is the same. See § 32a (1) EStG.
Solution Comments
Show commentsProblem Recent Solvers16
Suggested Problems
-
3186 Solvers
-
Project Euler: Problem 9, Pythagorean numbers
1177 Solvers
-
591 Solvers
-
256 Solvers
-
413 Solvers
More from this Author180
Problem Tags
Community Treasure Hunt
Find the treasures in MATLAB Central and discover how the community can help you!
Start Hunting!