Help can not calc Sales Tax

  • Thread starter Thread starter Thomas Grassi
  • Start date Start date
T

Thomas Grassi

I have Office XP PRofessional Excel 2002 SP3

I am trying to calculate sales tax in my spreadsheet and cannot come up with
the correct amount.

I48 = $660.17
A48 = 7.5%

G48 has =I48*(1-A48)

The result is $610.66

H48 is the sales tax result

=SUM(I48-G48)

The result is $49.51

I have a manual calculator that does sales tax and it does not match

$660.17
7.5%
$46.05 sales tax
Total minus sales tax is $614.12


Any ideas?

Thanks

Tom
 
So we are all on the same page... 660.17 is the total amount taxes included.
To find out the before tax amount divide it by 1.075. You get 614.11

660.17/1.075 = 614.11

HTH
 
Sorry 614.116 which rounds to 614.12...

Jim Thomlinson said:
So we are all on the same page... 660.17 is the total amount taxes included.
To find out the before tax amount divide it by 1.075. You get 614.11

660.17/1.075 = 614.11

HTH
Click to expand...
 
Thomas

Buy a new calculator.

660.17 * .075 = 49.51

Using Excel or the Calculator from Acessories


Gord Dibben Excel MVP
 
Jim

Thanks

How do I round up to 614.12 in the formula?

=SUM(I48/1.075)

My result is 614.11

I48 is 660.17 and is the total including sales tax.

Thanks

Tom
 
Whoops!

Ignore.

Was working from the wrong end.

Jim has you sorted out I see.

Gord
 
Gord

Thanks

I only do not know how to round this figure up to what I need check my
previous post.

Tom
 
Think Jim dropped a 1 when he said the answer is 614.116. The result of the
formula is:

614.111627906977

so it would round to 614.11 it rounding to 2 decimal places.
 
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