SheetFix AI

Sales Tax Calculator Template

Calculates sales tax on a price and the gross total, or works backwards to extract the tax already included in a total. Handy for invoicing, pricing, and reconciling receipts at any tax rate.

Add-on & inclusive tax formulas
Tax amount (add on):  =Price*TaxRate            e.g. =B2*0.08
Total with tax:       =Price*(1+TaxRate)        e.g. =B2*1.08
Tax inside a total:   =Total-(Total/(1+TaxRate)) e.g. =B2-(B2/1.08)
Net price from total: =Total/(1+TaxRate)

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How to use it

  1. Put your tax rate in one cell (as a decimal, e.g. 0.08) and reference it so you can update it in one place.
  2. Use the add-on formulas for quoting and invoicing.
  3. Use the "tax inside a total" formula to break out tax from a tax-inclusive receipt.
  4. Multiple regional rates? Use a lookup. Describe your rate table in SheetFix AI to get the VLOOKUP/XLOOKUP.

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