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Calculate the federal tax rate. The federal tax rate is a function of the adjusted income and the employee's marital status. Reference the tax tables
Calculate the federal 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 with $ in income would have a marginal tax rate.
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