## Saturday, 29 March 2014

### Program To Calculate and Report the Owed Income Tax Amount

/* Assume that the United States of America uses the following income tax code formula for their annual income:
First US\$ 5,000 of income: 0% tax
Next US\$ 10,000 of income: 10% tax
Next US\$ 20,000 of income: 15% tax
Next  Amount upto and above US\$ 35,000: 20% tax.
For example, somebody earning US\$ 38,000 annually would owe

US\$ 5,000 X 0.00 + 10,000 X 0.10 + 20,000 X 0.15 + 3,000 X 0.20, which comes to US\$ 4,600. */

main()
{
float amt,t1,t2,i,tax;
int c;
clrscr();
while(1)
{
printf("Enter your income in U.S. \$ --> ");
scanf("%f",&amt);
if(amt<5000)
{
tax=amt*0.00;
}
else if(amt<=10000)
{
t1=amt-5000;
tax=t1*0.10;
}
else if(amt<=20000)
{
t1=amt-5000;
if(t1<10000)
{
tax=t1*0.10;
}
else
{
t2=t1-10000;
tax=(10000*0.10)+t2*0.15;
}
}
else if(amt>20000)
{
t1=amt-5000;
t2=t1-10000;
if(t2<=20000)
tax=(10000*0.10)+t2*0.15;
else
{
t2-=20000;
tax=(10000*0.10)+(20000*0.15)+t2*0.20;
}
}
printf("Your owed tax amount is %.2f \$.",tax);
printf("\nPress 1 to calculate another one or any number to exit. ");
scanf("%d",&c);
if(c==1)
printf("\n");
else
exit(0);
}
}

OutPut: