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How would I calculate sales Tax?|InfoTaxSquare.com

 
 
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Category : > Sales Tax ID
Posted On : Thu Dec 31st,2009

 
For calculating sales tax, you need to identify the specific state sales tax rate as the sales tax differ from state to state, retail price of the item and then simply multiply the cost of the item with the sales tax rate.
 

To calculate sales tax you need to know following things:

First, how much is the base price of the item?

Second, you need to know what is the percentage on the dollar. (e.g. 5%, 6.5% etc).

Find out the sales tax in your area. Be sure you know the sales tax in your city, not just the state’s sales tax. The city you live in no doubt has a higher tax rate than the state.

For multiple items, simply add up the prices and multiply the subtotal by the one and the sales tax.

Sales tax rates and rules vary from state to state, city to city.  
 

  

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Comments (1)
sale tax   wrote on : Sun Feb 28th,2010
what is the sales tax for new vehicles in illinois?
Reply : infotaxsquare.com
 
To Whom It May Concern:
Thanks for choosing InfoTaxSquare.com for your business needs. To check the sales tax rate please either contact to IL department of revenue or your accountant.

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