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To calculate the tax percentage on a sale take the total sale, subtract the price of the item, then divide the result by the price of the item. Fpr example
a $1.00 item is purchased, the total sale is $1.10, subtract the $1.00. $.010 was paid in tax, to determine the tax percentage paid divide $ .10 by the
$1.00 item price and you get a .10 tax rate (or 10%).
( total purchase price - price of item ) / price of item = tax percentage
Be aware that on some sales only a portion of the sale is taxable, such as a take out order from a restuarant only the carbonated beverage may be taxable.
What else can I help you with?
How do you calculate income tax on a budgeted income statement?
You divide the percent of tax to your total and you will get your answer
How do you calculate 8 percent tax on a 39.60 purchase?
You take 8% and turn it into a decimal, 0.08. Then multiply 39.60 by 0.08. The answer that you get then is how much your tax is. If you want the total. Then add the answer to 39.60.
How you Calculate Provision for Income tax?
how to calculate provison for income tax
What would gift tax be on 75000.00?
You would take off the annual exemption of 15,000 (in 2012) and calculate the tax on the remaining $60,000, which could be as much as 50 percent. However, the gift giver can apply part of their lifetime gift tax exemption and not pay any tax.
How much is 27 percent sales tax on 120.00 dollar?
For 2.7 percent sales tax the total tax is $3.24 and the total price with tax is $123.24.
What is 12 percent Tax from 500 000?
To calculate 12 percent tax from 500,000, you multiply 500,000 by 0.12. This results in a tax amount of 60,000. Therefore, 12 percent tax on 500,000 is 60,000.
What is the sales tax of 400000 if the sales tax is 1.5 percent?
You have to calculate 400,000 x 1.5 / 100. (Percent means hundredths; the idea is to calculate 1.5 hundredths of the amount.)
How do you calculate income tax on a budgeted income statement?
You divide the percent of tax to your total and you will get your answer
Calculate the total cost of a pair of shoes at 59.99 with a county sales tax of 1.75 percent a city sales tax of 1.50 percent and a state sales tax of 4.75 percent?
64.79 (A+)
How do you calculate luxury tax?
sale package 10000 so what amount we will calculate in luxury tax & what is the reason
How do you calculate 1.5 percent sales tax?
Multiply the price by 0.015
Calculate the total cost of items that cost 25.67 with a 6 percent city sales tax and a 1.65 percent county sales tax?
27.63
What is 6 percent tax of 79.20?
To calculate 6 percent tax of $79.20, you multiply $79.20 by 0.06. This gives you $4.752. Therefore, the 6 percent tax on $79.20 is approximately $4.75 when rounded to two decimal places.
What is 15 percent tax of 138 and how does one calculate this correctly?
138 * 1.15
What is 8 percent tax off of 15 dollars?
To calculate 8 percent tax on 15 dollars, multiply 15 by 0.08 (which is the decimal equivalent of 8 percent). This results in a tax amount of 1.20 dollars. Therefore, the tax on 15 dollars at an 8 percent rate is 1.20 dollars.
How do you calculate 13 percent sales tax?
You multiply the purchase price (without sales tax) by 13/100, that is, by 0.13.
How do you calculate sales tax if it is 8.25 percent in Texas?
To calculate sales tax in Texas at a rate of 8.25 percent, first determine the taxable amount of the purchase. Multiply this amount by 0.0825 (which represents 8.25 percent). For example, if the purchase is $100, the sales tax would be $100 x 0.0825 = $8.25. Finally, add the sales tax to the original purchase price to find the total amount due.
