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Prepare Food and Beverage Sales Tax Monthly Remittance FormREVISED

Prepare Food and Beverage Sales Tax Monthly Remittance FormREVISED

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[Music] welcome to math with mr j [Music] in this video i'm going to cover how to calculate sales tax and then the final price with that tax included let's jump into our examples and see exactly how we do this starting with number one where we have a price of 75 dollars and then a sales tax rate of 8 percent now i do want to mention that sales tax rates vary by country and state and then there can be local taxes that are included as well this video does not cover a specific location sales tax these are general numbers being used to show how to calculate sales tax so the first thing that we want to do is to calculate how much sales tax we will be paying we do this by multiplying the price by the tax rate the tax rate is going to be in the form of a percent we want to get this percent to decimal form percent means per 100 so we divide the percent by 100 to convert it to a decimal we can do this by simply moving the decimal twice to the left so percent to decimal move the

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