How to compute Sale Tax

[jz78]

Hello! I am not accounting major or good on business area. please help!

How to compute a sale tax on a $52 purchase, if assuming that state sales tax is 4 percent and the country sale tax is 2 percent?

Do i need to add both sale tax and compute total purchase with tax?

 

[nyczyar]

Hello! I am not accounting major or good on business area. please help!

How to compute a sale tax on a $52 purchase, if assuming that state sales tax is 4 percent and the country sale tax is 2 percent?

Do i need to add both sale tax and compute total purchase with tax?

Depends on your jurisdiction. New york state is 4%, depending on jurisdiction it's 4%-4.875.
All NYC and counties near NYC is 8.875%. Not all items are taxable. If you think you paid more, you can save the receipt and get a refund. For example, I was charged sales tax from amazon on college textbooks, I printed the invoices and mail it to albany for refund, and gotten around $25 back; However, since you have a 3 year statute of limitation, you can only get a refund of 3 years back max.

 

[bklynboy]

I think the question being asked is how to mathematically calculate the tax for each jurisdiction. From your example its simply:

State: 52 * 4% = 2.08
Country: 52 * 2% = 1.04

Total tax should be 3.12. You could also just add up the 2 taxes (6%) and multiply by the 52 and get the same result.