Mike,
In principle, you multiply by the tax rate, and divide by 1 (Or 100%) plus
the tax rate. So here bit would be
=A1*.088/(1+.088)
or
=A1*8.8%/(100%+8.8%)
You might want to round it to 2 dec places as it is currency
=ROUND(A1*8.8%/(100%+8.8%),2)
--
HTH
RP
(remove nothere from the email address if mailing direct)
"MikeS" wrote in message
...
I need to create an Excel Formula that calculates how much tax was paid
within a total amount. example: Total Amount = $546.20. Tax base =
8.8%.
How much of the $546.20 is tax?
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