Selling in Whole Dollar Amounts

If you’d like your item price plus sales tax to equal a whole dollar amount, here’s how to do the math below. Making your own sheet like this will allow you to itemize your receipts so that it is clear to you, your customer, and your state what’s what. As always, be sure you are following your state’s regulations for collecting and recording sales tax.

Say your sales tax is 5%.

Your $20.00 (including tax) is then 105% (100% Item price, plus 5% tax).

To get to the amount before tax, divide 20 (the total) by 105 and multiply by 100 : 20.00/105*100 = $18.69 (item price).

Examples:

 

Total 

Item Price 

Sales Tax 

.95 

.5 

2.86 

.14 

4.76 

.24 

7.62 

.38 

8.57 

.43 

10 

9.52 

.48 

12 

11.42 

.58 

15 

14.29 

.71 

25, 30 

23.81, 28.57 

1.19, 1.43 

     
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2 Comments »

  1. […] Selling in Whole Dollar Amounts […]

  2. Sayo said

    thanks for this! I was trying to backtrack and figure out tax just this weekend!

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