use an if function to calculate the federal income tax rate. the federal tax rate is a function of the adjusted income and the employee's marital status. reference the tax tables in the model assumptions and the marital status in the employee information section to construct a formula (or set of nested formulas) to calculate the tax rate. for example, a single employee who earned $15,000 would pay a 33% marginal tax rate.

An income tax can be regarded as a charge assessed against individuals or groups (taxpayers) based on their income (commonly called the taxable income). In most circumstances, the amount of income tax is determined by adding the tax rate and the taxable income. The type of taxpayer and the type of income are two factors that can affect the tax rate. As taxable income rises, the tax rate could rise as well (referred to as graduated or progressive tax rates). Corporate tax, the term used to describe the tax placed on companies, is generally calculated at a flat rate.

Individual income is frequently taxed at progressive rates, meaning that the tax rate that applies to each subsequent unit of income rises with each passing year (for example, the first $10,000 of income is taxed at 0%, the following $10,000 at 1%, etc.). Most jurisdictions often exclude local charities from taxation. Different (often lower) tax rates than those applied to other types of income may apply to investment income. Tax-reducing credits of all stripes may be granted. Some countries apply whichever tax is higher—an income tax or a tax on a different foundation or way of measuring income.

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