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Excel to calculate FUTA tax

Discussion in 'Business Applications' started by laura808, Jan 9, 2011.

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  1. laura808

    laura808 Thread Starter

    Jan 9, 2011
    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.
  2. etaf

    etaf Moderator

    Oct 2, 2003
    First Name:
    =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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