The total of net price and sales tax is the product gross price. What you pay at the counter is the gross price of the product. In simple terms, the formula for Gross Price is given as.
Even though the formula of calculating sales tax is simple, calculating the results manually is not the best way out. With this reliable sales tax calculator, you can determine the sales tax value accurately and in quick time. In less than a minute, the correct sales tax value would be shown on your screen.
Prepostseo sales tax calculator produces correct values which is why users opt for it.
The flow of this calculator can be understood easily by going through the inputs and outputs. Here are the steps you need to complete for determining the sales tax value.
To determine the value of sales tax and gross price, you have to enter the values of net price and sales tax percentage. The net price is the product cost without the inclusion of sales tax. Similarly, the sales tax percentage is the ratio of the product cost charged as tax. Consider the following values.
Simply enter these values in the respective text boxes and advance to the next step.
Once you have entered the values of sales tax percentage and net price, click the calculate button. If you use the above values, the following results would be generated.
Gross price is the sum of net price and tax amount.