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Topic: Confusion on adding percentage of cost to that cost.
Replies: 2   Last Post: Jul 12, 2005 3:27 PM

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Bob

Posts: 8
Registered: 6/17/05
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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