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.
Solve

Solution Stats

54.29% Correct | 45.71% Incorrect
Last Solution submitted on Nov 01, 2024

Problem Comments

Solution Comments

Show comments

Problem Recent Solvers16

Suggested Problems

More from this Author180

Problem Tags

simple tax

Community Treasure Hunt

Find the treasures in MATLAB Central and discover how the community can help you!

Start Hunting!