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Taxable-Equivalent Yield Calculator — result sheet
Convert a tax-exempt yield into the taxable yield that would leave the same after-tax return at an entered tax rate.
Inputs used
Results
Visual chart
Breakdown
Calculation steps
Returned data table
Formula and methodology
Formula: Taxable-equivalent yield = tax-exempt yield ÷ (1 − tax rate); after-tax check = taxable-equivalent yield × (1 − tax rate).
The calculator answers a narrow comparison question: what pre-tax yield would leave the same after-tax percentage if the entered tax rate applied uniformly? It does not decide whether a product is tax-exempt or whether two investments have equal risk, duration, liquidity, fees, or legal treatment.
This result follows the calculator's declared inputs, precision, validation boundaries, and model limits.
Input contract
- Tax-exempt yield — %; minimum -99.999999; maximum 1000000
- Tax rate assumption — %; minimum 0; maximum 99.999999
Worked example
| Input | Value |
|---|---|
| Tax-exempt yield | 3 |
| Tax rate assumption | 25 |
Taxable-equivalent yield = 4%; tax at 25% = 1 percentage point; after-tax check = 3%.
Assumptions and limits
- The tax-exempt yield and taxable-equivalent comparison use the same period and yield convention.
- The entered tax rate applies uniformly to the taxable comparison yield.
- The tax rate is below 100% so the gross-up denominator remains positive.
- State, local, alternative-minimum, withholding, capital-gains, and investor-specific rules are excluded.
- The result compares yields only and is not a security valuation or recommendation.
Calculator note
Source and methodology
Use the official WorldCalculate methodology policy for the source, formula, precision, and boundary standards behind this calculator.
Planning estimate, not financial, medical, legal, or professional advice. © WorldCalculate — reuse with attribution. Built and curated by Hassan ALRowaie.
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