1. What is a subtotal? 2. What is Sales Tax? 6.1 Sales Tax ...

6.1 Sales Tax and Total Purchase

4. Who does this money go to? States: PA 6% NJ 7% NY 8% MD was 5% - now 6% DE 0%

5. What types of items are subject to sales tax? All items purchased?

Essential items are not taxed ? Clothing ? Food (non-prepared)

1. What is a subtotal? Total of all items before sales tax

2. What is Sales Tax? % of subtotal that is taxed

3. What other types of taxes might you pay on purchases?

County Tax Luxury Tax Sin Tax

6. How do we find sales tax? (what's the formula?) (Subtotal of Taxable items) x (Tax Rate)

7. What is the total purchase price? (Subtotal of All Items) + (Sales Tax)

8. Julie bought items at Wal-Mart that totaled to $415.23. The sales tax in Maine, where she lives, is 5%.

a. What's the subtotal? $415.23

b. What is the sales tax? 415.23 x 0.05 = $20.76

c. What is the total purchase price? 415.23 + 20.76 = $435.99

9. Allison bought a cell phone for $199.95 and a phone case for $19.95. In Texas, state sales tax is 6.25% and the city sales tax in Austin is 2%.

a. What's the subtotal? 199.95 + 19.95 = $219.90

b. What is the sales tax? 0.0625 + .02 = 0.0825 219.90 x 0.0825 = $18.14

c. What is the total purchase price? 219.90 + 18.14 = $238.04

p. 233 #5-11 odds only p. 236 #7, 10, 13

5. $1.09 7. $157.61 9. $90.34; $4.52 11. $5.75

7. $64.14 10. $305.83 13. $33.02

Assume PA TAX 6%

Assume PA TAX 6%

1. What is a sales receipt? A list of all items bought, how many of each item, subtotal, tax, total purchase price, etc.

2. What is it used for? (what does it show?) - Proof of purchase - Show customer prices/discounts - has information of store

3. Why are receipts important? - Proof of purchase - Returns - Records

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