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22-10-2020
Mathematics

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Work out sales tax formula

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2612rashi 2612rashi

22-10-2020

Answer:

To calculate the sales tax that is included in a company's receipts, divide the total amount received (for the items that are subject to sales tax) by "1 + the sales tax rate". In other words, if the sales tax rate is 6%, divide the sales taxable receipts by 1.06.

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