how do i calculate taxes on my purchases?

Answer 1

If your tax rate is 8.25%, you multiply the purchase price by .0825. That is your tax amount. If you want to know what the price is including tax, you multiply it by 1.0825

Answer 2

Each state and some cities have there own taxt rate expressed as a percent. Examples 5%, 6%, 8.25%

Divide the tax rate above by 100 to get a decimal. In the eaxamples above that would be .05, .06 and .0825 respectively.

Now multiply this decimal by the amount of money you spent. If for example you spend an even $100.00 you would multiply 100.00 by each of the decimals.

So again in the exaples above that would be:
$100.00 X .05 = $5.00 IN SALES TAX
$100.00 X .06 = $6.00 IN SALES TAX
$100.00 X .0825 = $8.25 IN SALES TAX

Got it?

Answer 3

let total amount of purchase = $150
let tax rate = 15%
Total tax on purchase i.e.on $150 = (150)*(15/100) =$22.50
Total amount to be paid = $(150 + 22.50)
=$172.50
Now a formula to calculate tax= (Purchase)*{ (tax rate)/100}

Answer 4

Let's say the tax is 7.5%

To find the tax multiply the cost by .075

To find the total multiply the cost by 1.075

Answer 5

Dont pay your taxes. Someone will it do it for you and tell you what to pay.