Function progressive_tax_unchecked

pub fn progressive_tax_unchecked(
    agi: Decimal,
    deductions: Decimal,
    rate_table: &[(Decimal, Decimal)],
) -> Decimal

Progressive Income Tax - Unchecked Version

This is an unchecked version of the progressive_tax function that skips the rate table validation, may provide a performance boost in scenarios where the rate table is known to be valid.

Arguments

• agi - Adjusted Gross Income (AGI) for the tax year, your total income minus any above-the-line deductions
• deductions - Any below-the-line deductions for the tax year (i.e. standard or itemized deductions)
• rate_table - A slice of tuples representing the upper income of each bracket and its rate for the tax year (bracket, rate), the last tuple should represent a number to infinity and the highest rate. In practice, the final bracket would the maximum number representable by the Decimal type (Decimal::MAX).

Returns

• The total tax owed for the tax year based on the progressive rate table. If AGI is less than deductions, zero is returned (no tax owed).

Examples

use rust_finprim::amort_dep_tax::progressive_tax;
use rust_decimal_macros::*;
use rust_decimal::Decimal;

let rate_table = vec![
    (dec!(9_875), dec!(0.10)),
    (dec!(40_125), dec!(0.12)),
    (dec!(85_525), dec!(0.22)),
    (dec!(163_300), dec!(0.24)),
    (dec!(207_350), dec!(0.32)),
    (dec!(518_400), dec!(0.35)),
    (Decimal::MAX, dec!(0.37))
];

let agi = dec!(100_000);
let deductions = dec!(12_000);
let tax = progressive_tax(agi, deductions, &rate_table);