Excel to calculate FUTA tax

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laura808

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Jan 9, 2011
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I believe a saw a posting on this but I was not able to copy and paste the one line formula!!! I want to use a formula like this:

=If B110 <7000, then b109*0.008

B110 is a cell that contains the YTD gross earnings, B109 is the gross earnings for that pay period.

But then I also need this,

=if B110>7000, then b109*0

or something like that. How can I combine both into one formula? Luckily I just have one employee.
 

etaf

Wayne
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Oct 2, 2003
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=if(b110<7000, b109*0.008, 0)

= if ( test , result if true, result if false )

so for anything in cell b110 that equals 7000 or above cell the formula is in will have b109 * 0.008 in
but if it is less than 7000 it will have zero in - no need to have the calcualtion as anything times zero is zero
 
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