Sales Tax

Front

What is sales tax?

Back

Sales tax is a percentage of the sale price of goods and services that is collected by the seller and paid to the government.

Front

How do you calculate sales tax?

Back

To calculate sales tax, multiply the price of the item by the sales tax rate (as a decimal).

Front

If an item costs $50 and the sales tax is 8%, how much is the sales tax?

Back

$4.00

Front

What is the formula to find the total cost including sales tax?

Back

Total Cost = Price + (Price x Sales Tax Rate) or Total Cost = Price x (1 + Sales Tax Rate)

Front

Convert 6% to a decimal.

Back

0.06

Front

Convert 8.25% to a decimal.

Back

0.0825

Front

If a shirt costs $20 and the sales tax is 15%, what is the final price?

Back

$23.00

Front

What is the total cost of an item priced at $17.95 with a sales tax of 6%?

Back

$19.03

Front

If a car costs $75,000 and the sales tax is 6%, how much is the sales tax?

Back

$4,500

Front

What is the sales tax on a $100 purchase if the sales tax rate is 5%?

Back

$5.00