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pav-90 [236]
3 years ago
7

Vendors at Municipal Stadium sell their wares at prices that include the city, state, and transit district sales taxes; the tota

l of these taxes is 8.25 percent when added to prices that do not include the sales tax.
a. Convert this 8.25 percent tax-exclusive sales tax rate into its tax-inclusive equivalent rate (Hint: Use the method outlined for VAT calculations.)
b. A vendor has receipts (including sales tax) at a game of $15,325. What sales tax must the vendor remit to the tax authorities?
Business
1 answer:
dem82 [27]3 years ago
7 0

Answer:8.25/108.25

It means the goods is sold of tax inclusive rate 8.25

B.$1167.96

8.25/108.25 * 15325= $1167.96 this is the amount to be remitted to the tax authority as the sales was inclusive of vat.

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Answer:

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alexandr1967 [171]

A. True.....................

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2 years ago
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