Create a new Java application called \"IncomeTax\" (without the quotation marks)

Question

Create a new Java application called "IncomeTax" (without the quotation marks) that prompts a user for his or her marital status (single or married) and annual income (a double value), and then uses nested if statements to compute that person's tax, based on the simplified tax-rate table below. Output of your program should look close to the following and should be constructed using both String literals and variables for income, tax rate, and income tax. Based on a status of "single" and an annual income of $10000.0e, the income tax is 15.00% of $1000.00, which equals $1500.00 Simplified Tax-Rate Table IncomeMarital Status Single Marital Status - Married $30,000 115% 12% >$30,000 25% 20% · For single people with income greater than $30,000, the tax rate is 15% for $30,000 and 25% for the portion of incoming greater than $30,000. Similarly, for married people with income greater than $30,000, the tax rate is 12% for $30,000 and 20% for the portion of incoming greater than $30,000. Note the requirement for this program to use nested if statements. This requirement is intended to help you build some logic with good formatting. Use comments to help readers understand your code

Explanation / Answer

IncomeTax.java

import java.util.Scanner;

public class IncomeTax {

public static void main(String[] args) {

Scanner scan = new Scanner(System.in);

System.out.println("Enter the marital status (single or married): ");

String status = scan.next();

System.out.println("Enter the annual income: ");

double income = scan.nextDouble();

double taxRate;

if(status.equalsIgnoreCase("single")) {

if(income > 30000) {

taxRate = 25;

} else {

taxRate = 15;

}

} else {

if(income > 30000) {

taxRate = 20;

} else {

taxRate = 12;

}

}

double incomeTax = (income * taxRate)/100;

System.out.println("Based on a statu of "+status+" and an annual income of $"+income);

System.out.println("the income tax is "+taxRate+"% of $"+income+", which equals $"+incomeTax);

}

}

Output:

Enter the marital status (single or married):
single
Enter the annual income:
10000
Based on a statu of single and an annual income of $10000.0
the income tax is 15.0% of $10000.0, which equals $1500.0

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