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What sales tax must the vendor remit to the tax authorities

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Question - Assume vendors at Municipal Stadium sell their wares at prices that include the city, state, and transit district sales taxes; the total of these taxes is 8.25% when added to prices that do not include the sales tax.

a) Convert this 8.25% percent tax-exclusive sales tax rate into its tax-inclusive equivalent rate.

b) A vendor has receipts (including sales tax) at a game of $15,325. What sales tax must the vendor remit to the tax authorities? Round to the hundredths place.

Reference no: EM133159522

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