Java program that computes income tax
Posted by Samath
Last Updated: May 08, 2021
  778

The original U.S. income tax of 1913 was quite simple. The tax was
     • 1 percent on the first $50,000.
     • 2 percent on the amount over $50,000 up to $75,000.
     • 3 percent on the amount over $75,000 up to $100,000.
     • 4 percent on the amount over $100,000 up to $250,000.
     • 5 percent on the amount over $250,000 up to $500,000.
     • 6 percent on the amount over $500,000.
There was no separate schedule for single or married taxpayers. 
Write a program that computes the income tax according to this schedule.

Code:

import java.util.Scanner;

public class Main
{
	public static void main(String[] args) {
		
		Scanner input = new Scanner(System.in);
		double income;
		double tax;
		
	    System.out.print("Please enter your income: ");
	    income = input.nextDouble();
	    input.close();
	    tax = 0;
	    if (income < 1) {
	        System.out.println("Income must be greater than 0");
	        return;
	    }
	    else if (income <= 50000) {
	        tax = income * 0.01;
	    }
	    else if (income <= 75000) {
	        tax = income * 0.02;
	    }
	    else if (income <= 100000) {
	        tax = income * 0.02;
	    }
	    else if (income <= 250000) {
	        tax = income * 0.04;
	    }
	    else if (income <= 500000) {
	        tax = income * 0.05;
	    }
	    else {
	        tax = income * 0.06;
	    }
	    System.out.println("Your tax is: " + tax);
	}
}