Sales taxes are based on a percentage of the selling price of a product or service. Each country has its own rules and regulations regarding sales taxes and may refer to it using different names such as GST (goods and services tax) or VAT (value added tax). This sales tax calculator can be used to calculate the sales tax amount, sales tax rate, net amount or gross amount by entering any two of these value.
If you need further information on the calculation of sales taxes please see our sales taxes in accounting tutorial.
Sales Tax Calculator Instructions
The Excel sales tax calculator available for download below, is in fact six calculators in one. Depending on whether the sales tax rate, net amount, sales tax amount, or gross amount are known, by choosing the appropriate calculator, and entering two of the values, the sales tax calculator will work out the remaining two unknown amounts.
To use the calculator enter the details as follows:
Choose a Sales Tax Calculator
Firstly decide which of the two values from sales tax rate, net amount, sales tax amount, or gross amount are known and choose the appropriate calculator. In each of the calculators, the term net refers to the amount excluding sales tax, and the term gross refers to the amount including sales tax. It is important to realize that the calculators function independently of each other.
1. Calculate Tax and Gross Amount
Enter the tax rate percentage and the net amount. As a result the calculator calculates the tax amount and the gross amount.
2. Calculate Tax and Net Amount
Enter the tax rate percentage and the gross amount. The tax calculator calculates the net amount and the tax amount.
3. Calculate Tax Rate and Net Amount
Enter sales tax amount and gross amount. As a result the calculator calculates the tax rate percentage and the net amount.
4. Calculate Tax Rate and Gross Amount
Enter net amount and sales tax amount. The calculator calculates the tax rate percentage and the gross amount.
5. Calculate Tax and Tax Rate
Enter net amount and gross amount. As a result the calculator calculates the sales tax rate percentage and the tax amount.
6. Calculate Net and Gross Amount
Enter the sales tax rate percentage and tax amount. The calculator calculates the net amount and the gross amount.
Sales Tax Calculator Download
The tax calculator spreadsheet is available for download in Excel format by following the link below.
The tax calculator is one of many financial calculators for use in bookkeeping and accounting, discover another at the links below.
- Present Value Annuity Calculator
- Cost of Trade Credit Calculator
- Future Value of a Lump Sum Calculator
Users use this tax calculator at their own risk. We make no warranty or representation as to its accuracy. We are covered by the terms of our legal disclaimer, which you are deemed to have read. This is an example of a sales tax converter for use when considering how to determine sales tax. Furthermore it is purely illustrative. Additionally this is not intended to reflect general standards or targets for any particular business, company or sector. Accordingly if you do spot a mistake in this tax rate calculator, please let us know and we will try to fix it.
About the Author
Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.