How To Add Tax Value In Excel Adding Tax in Excel In this guide we ll show you how to calculate the total price including tax in Excel By the end of this tutorial you ll be able to input a price and a tax rate and Excel will automatically compute the final amount Step 1 Open Excel and Create a New Spreadsheet Start by launching Excel and opening a new spreadsheet
One way is to insert the total tax on a purchase as a separate line item and then add it to the net price Another way is to apply the tax to the net price to get the total price Add Sales Tax as Method 1 Getting the Sales Tax using a Subtraction The receipt shows price tax rate and total price Steps Subtract the price value from the total price to get the tax amount Go to C7 and enter the following formula
How To Add Tax Value In Excel
How To Add Tax Value In Excel
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In a new cell enter the formula A1 B1 to calculate the tax amount This formula multiplies the price by the tax rate giving you the tax amount that needs to be added to the original price Step 4 Add the tax to the original price Finally in another cell create the formula A1 A1 B1 to get the total price including tax Create a new table with two columns Category and Tax Rate Fill in the categories and their respective rates In your main sheet add a Category column next to the Item Name column In the Tax Rate column use the formula VLOOKUP A2 your table range 2 FALSE to automatically pull the correct tax rate based on the item category
Start by selecting the cell where you want to input the value to which you want to add tax Enter the formula In the selected cell input the formula to calculate the tax For example if you want to add a 10 tax to the value in cell A1 you can input the formula as A1 1 1 Press Enter This tells Excel to add the price before tax B2 to the calculated tax amount D2 Hit enter and you ll see the total cost of the item tax included Excel will calculate the tax as zero and your total price will just be the price before tax For items with a different tax rate just enter the appropriate rate in the tax rate column
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Step 3 Add the price and tax for each item using the formula A2 B2 This will calculate the total for item A as 50 00 5 00 55 00 and similarly for item B and item C Method 1 Apply Excel VLOOKUP Function to Calculate Income Tax In this method we ll apply the VLOOKUP function This function looks for a value in a range and returns a value from the specified column The tax rate here is not like the earlier sample So follow the steps below to perform the task Steps Select cell D13 Type the formula
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How To Add Tax Value In Excel - This tells Excel to add the price before tax B2 to the calculated tax amount D2 Hit enter and you ll see the total cost of the item tax included Excel will calculate the tax as zero and your total price will just be the price before tax For items with a different tax rate just enter the appropriate rate in the tax rate column