Tek-Tips is the largest IT community on the Internet today!

Members share and learn making Tek-Tips Forums the best source of peer-reviewed technical information on the Internet!

  • Congratulations Mike Lewis on being selected by the Tek-Tips community for having the most helpful posts in the forums last week. Way to Go!

Excel - calculate state, county and city tax amounts from total tax amount 1

Status
Not open for further replies.

cpjeffm

IS-IT--Management
Mar 9, 2015
73
US
I'm drawing a blank here guys...maybe it's just too early to be attempting this :).

I need to figure out how much my state (4%), county (1%) and city (4%) taxes are based on the actual tax amount charged.

For example, if I have a total tax charged of $27.00, I need to break that $27.00 out to get the state, county and city tax amounts.
 
Hi,

The total tax Rate is 9%: (4+1+4)

.09x = 27; so x = 27/.09

Or...

X = (Total Tax) / .09

Or...

(Tax Base) = (Total Tax) / .09

Skip,
[sub]
[glasses]Just traded in my OLD subtlety...
for a NUance![tongue][/sub]
 
Thanks Skip!

What I ended up doing is the following.

State 4%
=(Total Tax Amount) * (State Tax Rate) / (Total Tax Rate)

County 1%
=(Total Tax Amount) * (County Tax Rate) / (Total Tax Rate)

City 4%
=(Total Tax Amount) * (City Tax Rate) / (Total Tax Rate)
 
That’s the way it works!

Skip,
[sub]
[glasses]Just traded in my OLD subtlety...
for a NUance![tongue][/sub]
 
Status
Not open for further replies.

Part and Inventory Search

Sponsor

Back
Top