Write a program that calculates Federal and CA State tax based on gross income that was input
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Question:
Write a program that calculates Federal and CA State tax based on gross income that was input from user. The program should print the gross income, federal tax mount, state tax amount and net income (earnings after tax deduction).
Use Scanner class to read user input.
Import: import java.util.Scanner;
Scanner object: Scanner scan = new Scanner(System.in);
State Tax: %4 of the gross income.
Federal Rate For Individuals
10% up to $10,000
15% from $10,000 to $50,000
20% from $50,000 to $100,000
25% above $100,000
Related Book For
An Introduction to the Mathematics of Financial Derivatives
ISBN: 978-0123846822
3rd edition
Authors: Ali Hirsa, Salih N. Neftci
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