How do i calculate sales tax to an item?

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How do i calculate sales tax to an item?

Russ B

Well, all of the answers that said simply multiply by the percentage of the sales tax rate sound good.

That isn't really how it works!

Some mention that the tax rate in Volusia County Floida is 6.5% (which is true). I happen to know the state sale tax rates for Florida by rote.

The state of Florida has a 6% sales tax on taxable items. But, it is not that simple. Almost every state (every state that I have dealt with (36)) has a tax rate chart. It is not a matter of simple multiplication on a certain sales amount.

There are brackets that will create errors in that method.

I will use Florida as an example (it is 6% and Volusia adds a 1/2%).

(from this point tax means sales tax)

Purchase...................Tax

0.00 - .09...................0.00
0.10 - 0.16.................0.01
0.17 - 0.33.................0.02
0.34 - 0.50.................0.03
0.51 - 0.66.................0.04
0.67 - 0.83.................0.05
0.84 - 1.09.................0.06

The tax is calculated on each item not the total.

The simple mutliplication method works for round figures but it does not work otherwise.

Many states use to have a method for calculating tax based on a gross sales, this rate was higher...and most of the states do not allow it any more.

Hope this helps.

Bro

Here in California, the sales tax varies from area to area, but let's say it's 7.25%.

(price) x (1.0725) = (price with tax)

or
(price) x (.0725) = (just the tax on the item)

This is VERY basic arithmetic.

Ashley

First find out what the sales tax is in the area you're buying the item (where I live it's 5.5%)
Then convert the percent into a decimal (5.5% would become .055- you just move the decimal 2 places to the left)
Just add a 1 the the front of the number (1.055)
No multiply the cost of the item by the number you got above

For example, a $10 item with 6% sales tax would be $10.60

Shelly

Price of an item multiply the sales tax add the that number to the original price and you get total.

Usually sales tax is a given.

In Volusia County, Fl it 6.5%

badspeller

cost X the tax multiply move the point 2 no.ahead

tom4bucs

take the final sale price of the item and then multiply it by the saes tax rate and add to the price OR

(say your sales tax is 5%) multiply the sale price by 1.05
1 for the price of the item and .05 for the tax
so that an item which costs $100
would be $105 with tax

($100 x 1.05)

all the best

INFLUENCE

You multiply the sales tax rate (say 5%) applicable to your jurisdiction by the sales price of the item sold.

Joel

Go to the tip calculator on your mobile and input the sales tax... duh!

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