Sales tax in Excel

Does $148.56 include sales tax and you want to calculate what the sales tax amount is...?

Or $148.56 is without sales tax and you want to calculate what the sales tax amount is...?

Edit: If former... try Value - ROUND(Value/1.097,2). Exact rounding operation will depend on accounting practice.

if $148.56 is your sales price AND to that you have to add 9.7% sales tax the formula would be =148.56*1.097 or $162.97
the *1.097 gives you the total amount including the purchase price.
on the other hand if you simply want an amount to add at 9.7% then you would multiply 148.56*.097 for a total of $14.41 which you would then add to the $148.56 which would then add to $162.97.
Hope that helps.

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