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Bob
Posts:
8
Registered:
6/17/05
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Re: Confusion on adding percentage of cost to that cost.
Posted:
Jul 12, 2005 12:10 AM
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On Mon, 11 Jul 2005 17:20:04 GMT, "ticbol" <ticbol@yahoo.com> wrote:
>
>Let us analyze your $10-stuff example.
>
>You said if 5.75%, you just add 5.75 % of $10, which is $0.58, to the
>$10. So you sell the stuff at $10.58.
>Ok, so sale price is $10.58.
>Then taxman gets his 5.75% of $10.58.
No, no, no.
The taxman gets 5.75% of the sell price, $10.00. 0.58. Sales tax is
not charged on sales tax.
bob
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Date
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Subject
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Author
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7/12/05
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Bob
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7/12/05
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ticbol
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