Income tax code

[sunil paudel]

How can i write income tax code

Tax Calculator

Incremental Income                                                                         Tax Rate

0 to $30,000.00                                                                                    0%

$30,000.01 to $50,000                                                                           10%

$50,000.01 to $100,000                                                                           20%

$100,000 .01 to $200,000                                                                        30%

$200,000.01 to $250,000                                                                         35%   

>$250,000.01                                                                                          40%

Note that the above ranges are not total  income but additional income. For example, if one earns $125,000 per year, then there is no tax on the first $30,000. The next $20,000 is taxed at a rate of 10%, the next $50,000 is taxed at a rate of 20%, and the remaining $25,000 is taxed at a rate of 30%.

[Richard Loy]

Hi Sunil, there are many ways to do this quickest but more coding involved is an if statement to check the value of income and the tax bracket then run a tax calculation (see below). There are of course easier ways in which you Don't Repeat Yourself, this way is more straight forward.

class Tax:

    def main(self):

        self.total_tax = 0.0
        self.income = float(input("Enter Income:"))
        print("Total Income: $%0.2f" % (self.income))

        if self.income > 250000:
            #calculate tax for income over $250000 @40%
            self.total_tax += self.calc_tax(self.income-250000, 40)
            #calculate tax for income over $200000 @35%
            self.total_tax += self.calc_tax(50000, 35)
            #calculate tax for income over $100000 @30%
            self.total_tax += self.calc_tax(100000, 30)
            #calculate tax for income over $50000 @20%
            self.total_tax += self.calc_tax(50000, 20)
            #calculate tax for income over $30000 @10%
            self.total_tax += self.calc_tax(20000, 10)
            print("Total tax: $%0.2f" % (self.total_tax))
        if self.income > 200000 and self.income <= 250000:
            #calculate tax for income over $200000 @35%
            self.total_tax += self.calc_tax(self.income - 200000, 35)
            #calculate tax for income over $100000 @30%
            self.total_tax += self.calc_tax(100000, 30)
            #calculate tax for income over $50000 @20%
            self.total_tax += self.calc_tax(50000, 20)
            #calculate tax for income over $30000 @10%
            self.total_tax += self.calc_tax(20000, 10)
            print("Total tax: $%0.2f" % (self.total_tax))
        if self.income > 100000 and self.income <= 200000:
            #calculate tax for income over $100000 @30%
            self.total_tax += self.calc_tax(self.income - 100000, 30)
            #calculate tax for income over $50000 @20%
            self.total_tax += self.calc_tax(50000, 20)
            #calculate tax for income over $30000 @10%
            self.total_tax += self.calc_tax(20000, 10)
            print("Total tax: $%0.2f" % (self.total_tax))
        if self.income > 50000 and self.income <= 100000:
            #calculate tax for income over $50000 @20%
            self.total_tax += self.calc_tax(self.income - 50000, 20)
            #calculate tax for income over $30000 @10%
            self.total_tax += self.calc_tax(20000, 10)
            print("Total tax: $%0.2f" % (self.total_tax))
        if self.income > 30000 and self.income <= 50000:
            #calculate tax for income over $30000 @10%
            self.total_tax += self.calc_tax(self.income - 30000, 10)
            print("Total tax: $%0.2f" % (self.total_tax))

    def calc_tax(self, income, tax_rate):
            tax = income/tax_rate
            return tax
           
if __name__ == "__main__":
    Tax().main()