S = Salary per period. this will vary but the period total will be listed in cell G16
X = Number of personal exemptions claimed for withholding; X may be 0, 1, or 2. this will be 2
Y = Number of dependency credits claimed for withholding; Y may be 0 or greater. this will be 2
M = Income Brackets for tax rate change.
If X = 0 or 1, then M1 = $12,500, and M2 = $25,000
If X = 2, then M1 = $25,000, and M2 = $50,000
N = Number of pay-periods per year (for example, weekly = 52 or monthly =12). this will be 52
W = Withholding tax.
S = Salary per period.
X = Number of personal exemptions claimed for withholding; X may be 0, 1, or 2.
Y = Number of dependency credits claimed for withholding; Y may be 0 or greater.
M = Income Brackets for tax rate change.
If X = 0 or 1, then M1 = $12,500, and M2 = $25,000
If X = 2, then M1 = $25,000, and M2 = $50,000
N = Number of pay-periods per year (for example, weekly = 52 or monthly =12).
If S > 0
Then A = (S * .021)
Else A = 0
If S > (M1 / N)
Then B = .0135 [S - (M1 / N)]
Else B = 0
If S > (M2 / N)
Then C = .0135 [S - (M2 / N)]
Else C = 0
D = .021 {[(X * $4,500) + (Y * $1,000)] / N}
If [(X * $4,500) + (Y * $1,000)] > M1
Then E = .0135 {[(X * $4,500) + (Y * $1,000) - M1] / N}
If (A + B + C) - (D + E) > 0
Then W = (A + B + C) - (D + E)
Else W = 0

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