Quote:
Originally Posted by jane032657
My husband is a CPA and says this is correct.
If sales tax is 7%,you divide by 1.07.
If the rent is $1000 you divide by 1.07:
$934.58 for the rent and the difference between that and the $1000 would be the tax.
You just divide the total by 1.07 or whatever the sales tax is.
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Are you sure the tax would not be $70.00 if the tax is 7% and the rent is $1000.00?