asked 193k views
2 votes
Sales tax is calculated

asked
User Sventies
by
9.2k points

2 Answers

4 votes

To calculate sales tax you must:

1. Know the sales tax rate

2. Use the sales tax formula which is

Sales Tax = Total Sales X Sales Tax Rate

Example:

You have a business and you must collect a sales tax at a rate of 8.00%. Your customer bill before adding tax is $399.

Sales tax = $399 times 0.08

Sales tax would be $31.92.

$399 + $31.92 = $430.92 would be the total including sales tax.

answered
User Jkalivas
by
8.7k points
2 votes

B. using a percentage of the price of an item.

answered
User IlCosmico
by
8.6k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.