Results 1 to 9 of 9
  1. #1
    5 Star Lounger
    Join Date
    May 2001
    Location
    Allen, Texas, USA
    Posts
    727
    Thanks
    1
    Thanked 0 Times in 0 Posts

    Calculate gross after net less a tax rate

    This is probably a very simple formula, but having a brain-fart.

    I'm looking to obtain the gross amount of a given net number after 20% is withheld.

    Thanks!
    KZ

  2. #2
    Super Moderator RetiredGeek's Avatar
    Join Date
    Mar 2004
    Location
    Manning, South Carolina
    Posts
    9,434
    Thanks
    372
    Thanked 1,457 Times in 1,326 Posts
    KZ,

    =Net/(GrossPct*100)*100

    =80/(0.8*100)*100 Will = 100.

    You may want to enclose it in a round function, e.g. =Round(formula-here,2)

    CZNet.JPG

    HTH
    Last edited by RetiredGeek; 2015-09-03 at 21:51.
    May the Forces of good computing be with you!

    RG

    PowerShell & VBA Rule!

    My Systems: Desktop Specs
    Laptop Specs

  3. #3
    Bronze Lounger
    Join Date
    Feb 2008
    Posts
    1,420
    Thanks
    124
    Thanked 5 Times in 5 Posts
    If amount is in say A2 is 1000 and % in B2 (is 20%), then formula in C2 would be = A2* (1-B2). This will equate to 1000 * (1-0.20) = 800

  4. #4
    5 Star Lounger
    Join Date
    May 2001
    Location
    Allen, Texas, USA
    Posts
    727
    Thanks
    1
    Thanked 0 Times in 0 Posts
    Thanks. So, in your formulas with =ROUND(C2/(B2*100)*100,2) I'd like the B2 cell to be 20, and not the offset using 80. What would the formula look like to put the 20 or 0.2 in B2?

  5. #5
    Gold Lounger Maudibe's Avatar
    Join Date
    Aug 2010
    Location
    Pa, USA
    Posts
    2,637
    Thanks
    115
    Thanked 650 Times in 592 Posts
    Net/(100%-discount) OR Net/80% OR Net/.8

    HTH,
    Maud

    discount.png
    Last edited by Maudibe; 2015-09-03 at 22:25.

  6. #6
    5 Star Lounger
    Join Date
    May 2001
    Location
    Allen, Texas, USA
    Posts
    727
    Thanks
    1
    Thanked 0 Times in 0 Posts
    Maudibe, that's even easier! However, I'd like to use 20% (.20) not .80. Any way to convert that so I can use that number?

  7. #7
    WS Lounge VIP
    Join Date
    Mar 2002
    Location
    Newcazzle, UK
    Posts
    2,826
    Thanks
    136
    Thanked 482 Times in 459 Posts
    Hi

    ..if your withholding tax is 27.5% then, the formula is
    =A2/(1-27.5%)

    ..if your withholding tax is 20% then, the formula is
    =A2/(1-20%)

    ..you can enter the tax percentage number as 20%; you don't need to enter it as .20 if you don't want to.

    zeddy

  8. #8
    Gold Lounger Maudibe's Avatar
    Join Date
    Aug 2010
    Location
    Pa, USA
    Posts
    2,637
    Thanks
    115
    Thanked 650 Times in 592 Posts
    Net/(100%-discount)
    Net/(100%-20%)

  9. #9
    5 Star Lounger
    Join Date
    May 2001
    Location
    Allen, Texas, USA
    Posts
    727
    Thanks
    1
    Thanked 0 Times in 0 Posts
    Thanks everyone. That works perfect now.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •