calculate taxes

[Guest]

I have columns of sale items that need to have two taxes 7% & 6% added to
them. I can do one by but not sure how to combine them. ie 100+7+6=113. What
is the formula for this. I am relatively new to this.

 

[SteveW]

If you can do one, do it for 13%

Steve

 

[Gord Dibben]

Looks like Provincial/State tax and Federal GST

The taxes are not compounded, so just add them together and tack onto the
selling price.

=A1+(A1*.13)


Gord Dibben MS Excel MVP

 

[joeu2004]

I have columns of sale items that need to have two taxes 7% & 6% added to
them. I can do one by but not sure how to combine them. ie 100+7+6=113. What
is the formula for this. I am relatively new to this.

If you can do one, ostensibly it would seem "obvious" how to do two.
It would be helpful if you posted the formulas that you use to compute
one, so that we might understand your confusion better and offer some
help.

For example, if your sale price is in A1 and you can compute the total
with 7% tax added in A2 with =A1*(1+7%), you could compute the total
with combined 7% and 6% tax with =A1*(1+7%+6%), or do the addition in
your head and formulate it as =A1*(1+13%). Since that seems too
obvious, I suspect I have over-simplified your problem or how you want
to structure the solution.

 

[vandenberg p]

Hello:

Try this:

Assume that you enter .07 in A1 and .06 in A2 (you can format
them as percents if you wish).

Your before tax prices are in A4 through…..A??
Then enter =A4*(1+$A$1+$A$2) in B4 and copy down to B??
This calculation assume the taxes are independently applied to sale price.

If they are not, as they are in some cases with things like excise taxes,
then you would use the following in B4: =A4*(1+$A$1)*(1+$A$2).
This would produce a larger price.

As to who gets the extra that depends upon the rule. If the 6% tax
includes the 7% tax then the total tax per dollar will be .1342.
With 7 cents going to first tax authority and 6.42 cents going to the second.

Pieter Vandenberg

: I have columns of sale items that need to have two taxes
7% & 6% added to
: them. I can do one by but not sure how to combine them.
ie 100+7+6=113. What
: is the formula for this. I am relatively new to this.