I need to create a formula that will take a date that I have listed in my
spreadsheet and subtract from it the number of business days.

For example

Date in cell A1 11/12/2007
Number of Business days to subtract in A2 12

=WORKDAY(A1,-A2)

Note that this function requires the Analysis ToolPak be enabled (found at
Tools/Add-Ins on Excel's menu bar. The WORKDAY function also allows you to
account for holidays if you want (see the help files).

Rick