Jump to content
ATX Community
Sign in to follow this  
Terry D

Sales Tax Calculation

Recommended Posts

Math Guru's help me with this problem. Trying to back into some figures in a client's books. Is this possible to do?

Total sales = $35,038.71

NC Sales Tax rate= 6.75% /.0675

Tax paid = $1470.89

What portion of the total sales are tax exempt sales with the difference equaling taxable sales with a tax liability of $1470.89

 

Share this post


Link to post
Share on other sites

$ 1,470.89 divided by 0.0675 = $   21,791 taxable sales

Total Sales          $ 35,039

- Taxable                 21,791

Nontaxable sales $ 13,248

  • Like 5

Share this post


Link to post
Share on other sites
16 hours ago, Terry D said:

Damn that was easy. I guess I really went off the deep end and way over thought the math. THANK YOU!

We ALL do it on occasion!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×