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Jim Thomlinson[_3_] Jim Thomlinson[_3_] is offline
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Default Help can not calc Sales Tax

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

"Thomas Grassi" wrote:

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