how do you calculate th sales tax increase rate?

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how do you calculate th sales tax increase rate?

ex: 6.95 before tax, 7.61 after. what is the formula to calculate the sales tax increase?

2007-05-17 10:30:25 · 3 answers · asked by neo 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

7.61 / 6.95 = 1.095. (1.094964)
The tax rate is 9.5%

Bostonianinmo did not account for rounding errors. Tax rates are nearly always multiples of .25%. They are never 4 decimal places.

2007-05-17 11:10:11 · answer #1 · answered by STEVEN F 7 · 0⤊ 1⤋

Subtract 6.95 from 7.61 and divide by 6.95
.66 divided by 6.95 = 9.4%

2007-05-17 10:41:36 · answer #2 · answered by jbcwill1 2 · 0⤊ 0⤋

Divide the difference (.66) by the old rate. 9.4964%.

2007-05-17 10:41:08 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋