193k views
2 votes
Sales tax is calculated

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.

User Jkalivas
by
8.7k points
2 votes

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

User IlCosmico
by
8.6k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.