Enter your annual income, income frequency, and magic tax rate into the calculator to determine your net magic income.
Magic Income Calculation Formula
The following formula is used to calculate the net magic income from your annual income.
Net Magic Income = Gross Income * (1 - Magic Tax Rate / 100)
Variables:
- Net Magic Income is the net amount you take home ($)
- Gross Income is your annual income before deductions ($)
- Magic Tax Rate is the percentage of magic tax deducted from your income (%)
To calculate the net magic income