Write A Program To Compute The Tax Amount To Be Paid

Question

Write A Program Which Computes The Amount Tax To Be Paid Based On The Write a program which computes the amount tax to be paid based on the following rule. The tax is: No tax if your income is less than or equal to $50,000 (inclusive) 5% if the income is over $50,000 up to 75,000 (inclusive) 7% if the income is over $75,000 up to 100,000 (inclusive) 10% if the income is over $100,000. The program asks a user to enter his/her income and computes the amount of tax payable, as shown below (use the following test case for submission): Enter the income: 125000 The tax payable would be 12500.0 Part B) P.3.25 (page 154); Due by Sunday, Feb 5th Hint: review the code example (taxes.py) in section 3.3 Use the following test case (run your code with both test cases below): Are you married or single (M or S)? M What is your income? 78000 Your tax payable is 12300.0 Run your program with another test case: Are you married or single (M or S)? S What is your income? 28000 Your tax payable is 3800.0 For final electronic submission:(due by Sunday) One zip file (two python files for Part A and Part B). One PDF report file ( source code part A + execution result + source code part B + execution results (two test cases)) In summary, I expect to see two files: one zip file + one PDF file. Please name your files appropriately. For example, yourFirstName-LastName-HW2.PDF, FirstName-LastName-HW2-PartA.py, FirstName-LastName-HW2-PartB.py, etc.

Dr. Jack HW Helper · Accepted Answer

The assignment requires developing two Python programs to calculate tax obligations based on user inputs and specified criteria. The first program (Part A) focuses on computing the tax payable directly based on the user’s income, while the second program (Part B) integrates marital status into the calculation, influencing the taxable amount. This comprehensive task demonstrates proficiency in conditional statements, user input handling, and basic financial calculations in Python programming. Part A: Income-Based Tax Calculation The first program prompts the user to input their income and then determines the tax owed according to a tiered tax structure. The structure is straightforward: no tax is levied on income up to $50,000; a 5% tax rate applies to income between $50,001 and $75,000; a 7% rate for income from $75,001 to $100,000; and 10% for income exceeding $100,000. The implementation involves using if-elif-else conditional statements to evaluate the income bracket and compute the corresponding tax amount. Using the provided test case, an income of $125,000 results in a tax of $12,500, demonstrating that the program correctly applies the highest bracket rate to incomes exceeding $100,000. Part B: Marital Status and Income Tax Calculation The second program extends the first by adding a marital status component, which influences the tax calculation. The program first asks whether the user is married (M) or single (S), then requests their income. Based on these inputs, the program calculates the tax payable, which varies depending on marital status and income levels. For example, a married individual earning $78,000 owes $12,300 in taxes, while a single earning $28,000 owes $3,800. This implies a different tax calculation or reduction scheme based on marital status, potentially involving different thresholds or rates, although specifics are not explicitly described in the instructions. Implementation involves conditional logic that branches based on marital statu

Write A Program To Compute The Tax Amount To Be Paid

Write A Program Which Computes The Amount Tax To Be Paid Based On The

Paper For Above instruction

Part A: Income-Based Tax Calculation

Part B: Marital Status and Income Tax Calculation

Final Submission and Technical Requirements

References