Follow the programming example on page 123 in the Walter Savitch text book to compute both the state tax bill or state tax refund and the federal tax bill or federal refund based on your net income.
1. Enter your net income tax
2. Enter number of dependents.
3. If tax due for state income
• If income is less than or equal to $15,000
If total dependents greater than or equal to 2
• Tax refund is 5% of your net income
Else
• No tax due
Endif
• Else
Tax of 5% for net income from $15,001 to $25,000
Tax is 10% for net income over $25,000
• Endif
4. Else Federal income tax
• If income is less than or equal to $15,000
If total dependents greater than or equal to 2
• Tax refund is 10% of your net income
Else
• Tax is 4% of your net income
Endif
• Else net income is greater than $15,000
Tax of 7% for net income from $15,001 to $25,000
Tax is 10% for net income over $25,000
• Endif
5. Endif
6. Please enter net income rounded to the whole dollars.
7. Display:
• Net Income entered
• State tax refund or state tax bill
• Federal tax refund or tax bill
So far my code is this:
// project to calculate the compute state income tax
#include <iostream>
using namespace std;
int main()
{
int net_income;
double tax_bill;
double five_percent_tax, ten_percent_tax;
cout << "Enter your net income tax" << endl;
cin>> netincome;
cout << "Enter the number of dependents" << endl;
cin>>dependents;p
if ( netincome <=15000)
tax_bill = 0;
else if ((dependents >= 2 >))
tax_bill= 0.05*netincome;
else// No tax due
(
five_percent_tax = 5% of income from $15,001 to $25,000.
five_percent_tax= 0.05 *10000;
ten_percent_tax= 0.10 * (net_income - 25000)
tax_bill = (five_percent_tax + ten_percent_tax);
)
if (federalincome_tax <= 15000)
(if (dependents >= 2)
cout<< " Tax refund is = 0.10*netincome"
else
tax_bill= 0.04*netincome;