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Subject Author Date
2006 FIT formulas RCW 10-04-2006
Posted by RCW on October 4, 2006, 2:16 pm
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These may help out someone:

2006 Formula for Federal Income Tax Deduction - Single

A=ANNUAL(ADJUSTED_GROSS)-(EMP_FEDERAL_ALLOWANCES*3299.92);
B=0;
B=IF(A>2652, 0.1*A - 265.20, B);
B=IF(A>10010, 0.15*A - 765.70, B);
B=IF(A>32240, 0.25*A - 3989.70, B);
B=IF(A>73242, 0.28*A - 6186.96, B);
B=IF(A>156650, 0.33*A - 14019.46, B);
B=IF(A>338390, 0.35*A - 20787.26, B);

ANSWER=-PRORATE(B)-EMP_FEDERAL_EXTRA
-----------------------------------------------------------------------
2006 Formula for Federal Income Tax Deduction - Married

A=ANNUAL(ADJUSTED_GROSS)-(EMP_FEDERAL_ALLOWANCES*3299.92);
B=0;
B=IF(A>8008, 0.1*A - 800.80, B);
B=IF(A>22906, 0.15*A - 1946.10, B);
B=IF(A>68042, 0.25*A - 8750.30, B);
B=IF(A>126906, 0.28*A - 12557.48, B);
B=IF(A>195442, 0.33*A - 22329.58, B);
B=IF(A>343538, 0.35*A - 29200.34, B);

ANSWER=-PRORATE(B)-EMP_FEDERAL_EXTRA

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