SQL | startup | Income tax bracket
Anonymous User
629

In the US, we have a progressive income tax system in which taxes rates increase for dollars earned in higher tax brackets.

For this scenario, imagine there are 4 tax rates 5%, 10%, 15%, and 20%. The corresponding tax brackets are: 0-100K, 100K - 200K, 200K - 500K, and 500K+.

To calculate taxes paid, you simply need to calculate the taxes paid for dollars in each bracket.

(e.g. For income of 300K, 5%*100K + 10%*100K + 15%*100K).

Imagine you have a table of individual ids and their income. Calculate the taxes they owe on that income.

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