To determine the sales tax rate, divide the total sales tax paid by the product price. In this case, Michael would divide $5 ...

Calculate this by dividing the “sticker” price (or receipt total) by 1.0 plus the sales tax rate. For example, if you paid $50 for a lamp and the local sales tax rate is 9%, divide $50 by 1.09.

To calculate it, convert the sales tax percentage to a decimal, then multiply it by the retail price of the product or service. For example, in a state with a sales tax percentage of 5%, the sales ...

Sales tax example: If you bought a pair of shoes for $100 in California, where the sales tax is just over 7%, you’d owe around $7 in sales tax, making your total purchase around $107 ($100 x 0. ...

Here’s how the sales tax deduction works, how to calculate what to write off, and how to evaluate your options so you can maximize savings and cut your tax bill.