Quote:
Originally Posted by folkh
Are you sure the tax would not be $70.00 if the tax is 7% and the rent is $1000.00?
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The premise is that the monthly rent amount "includes" tax. Since you cannot charge tax on a tax. The monthly rent amount must be less than $1000 with the remainder being the tax. It is the same thing as saying the monthly rent is:
$934.58 plus sales tax of $65.42 (934.58 x .07)
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Real Name: Steven Massy Arrived at TV through Greenwood, IN; Moss Beach, CA; La Grange, KY; Crystal River, FL; The Villages, FL
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