Sales Tax pp SECTION

Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 2 of sales tax (p. 232) A tax charged by most states on the selling price of a good or service, usually expressed as a percent. Key Words to Know

Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 3 of Sales Tax = Total Selling Price × Sales Tax Rate Formula

Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 4 of Bill Engvalle bought a camera that had a selling price of $ and a pack of film that had a selling price of $ What is the sales tax on his purchases if he lives in Connecticut, where the sales tax rate is 6 percent? Example 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 5 of Find the total selling price. $ $18.85 = $ Example 1 Answer: Step 1

Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill MBA, Section 6-1, Slide 6 of Find the sales tax. Total Selling Price × Sales Tax Rate $ × 6% $ × 0.06 = = $8.94 sales tax Example 1 Answer: Step 2

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