How do I calculate the net taxable transactions and sales tax included in my motor vehicle fuel sales?
For this calculation, assume the following facts: $10,000 in motor vehicle fuel sales, tax included, at a rate of 2.75 percent (2.25 percent state rate plus an additional 0.50 percent district tax). Net motor vehicle fuel sales, rounded to the nearest dollar, are $9,732 (10,000 / 1.0275 = 9,732). The tax included deduction is $268 (10,000 – 9,732 = 268).
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