laura_doehring wrote the following post on 8/29/2006 4:07:42 PM
| The taxes are calculated as follows on a taxable item with a selling price of $100: |
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| Selling price |
$100.00 |
Step 3 |
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TOTAL - QST - GST |
| GST ($100 x 6%) |
$6.00 |
Step 2 |
GST |
(TOTAL-QST)/1.06*.06 |
| QST ([$100 + $6] X 7.5%) |
$7.95 |
Step 1 |
QST |
(TOTAL/.075)*1.075 |
| Total |
$113.95 |
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TOTAL |
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