I think N Harkawat made a typo, the sales tax amount for a deposit with 7%
sales tax included would be
=Deposit-Deposit/(1+7%)
Regards,
Peo Sjoblom
"N Harkawat" wrote:
say you deposited 107 and the sales tax rate is 7% then
=107/1.07
will give you the sales tax portion of your deposit
If your deposit is in cell A1 then
=A1/1.07
I
"Elite Achiever" <Elite wrote in message
...
I am creating a spreadsheet to show how much sales tax I need to repay
myself. I own a business and am trying to create a spreadsheet to show my
full deposit and it will break down the sales tax paid with that deposit.
I
am unable to come up with a formula to do this.
Help!