Related How to Solve Sales Tax Using Equations Learn More → Whether you're trying to get back to the pre-tax price of an item or you're calculating the amount of sales tax backwards from a receipt in your hand, the math is the same. You have to know the total amount paid, includ...
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eBay used to be one of the more difficult online sales platforms on which to collect sales tax. However, a 2018 Supreme Court decision in favor of South Dakota changed all that. This blog post will explore how and why eBay sales tax got so much easier, a
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Before we go any further I want you to know that I am not a tax specialist or giving you any tax advice. I highly recommendhiring a local CPAwho is knowledgeable of online sales and all the tax implications for your state.Today, I’m only showing you how to get the reports that yo...
We solve for S by dividing $481.50 by 1.07. The result indicates that the true sales revenue was $450. The 7% of sales tax on the true sales revenue is $31.50 ($450 X 0.07). To make sure our math is correct, we add the amounts: $450 of sales revenue + $31.50 of sales tax ...