tax rate off by 1 cent

This WebDNA talk-list message is from

1997

It keeps the original formatting. numero = 12833
interpreted = N
texte = >Hi,>>Well. I have finally gotten everything to work. Now it is just a matter of>fine tuning our site.>>Still, the lingering 1 cent off in the [taxrate] of 8.5% of 249.00$ bothers>me. The tax ends up being 21.16$ while the grand total is 270.17$ Is there>anyway to make the [taxrate} round up as the [grandtotal] does?Kev I think you are in California. I was lucky and got out of there in1990. But your issue of the tax rate being off I think is mute. InCalifornia they issue you this little card that says if the sale is betweenx and y then charge z for tax. Then at the end of a month quarter or whatever reporting period you are under with the state franchise tax board youreport I had taxable sales of so much and then multiply by the tax rate andpay that amount. You will never collect the exact same amount in sales taxas you pay. It is gonna be off by a few cents or so at each reportingperiod. Even if for example every sale ( by computer) was 10.20 and youdid that 100 times your computer would probaly round down ( and you wouldunder collect in fractional pennies in each sale). And if the sale was10.79 a 100 times the computer would round the tax up to the next cent (you would over collect in fractional pennies in each sale). Now I might beall wet on this becuase California loves to come up with screwy new laws:). And they might have changed things since 1990. But the sales tax youpay the franchise tax board has nothing to do with what you collect. Itonly deals with the total taxable sales times the rate. If you forget tocollect the tax at the time of sale..guess who still has to pay the tax.Check with your accounting department or C.P.A. I think you will find thatthey will tell you the 1 cent is nothing to worry about that is unlessevery sale you make is 249.99 and you do that thousands of times a month :)The process is the same here in Nevada as explained above also, just adifferent rate.What I am driving at is that if ran ever number from 1 cent to 1,000dollars you are gonna find a situation where webcatalog or any computerprogram will calculate the tax rate off by 1 cent up or down. It has to dowith (in Basic they call it precision) how many extra decimal points youcarry around before you round back to $.00. You just happend to run intoor find a situation where the rounding got you by 1 cent.===============================================Gary Richter PanaVise Products, Inc. 7540 Colbert Dr. Reno, Nevada 89511 Ph: 702.850.2900 Fx: 702.850.2929 Email: grichter@panavise.com http://www.panavise.com=============================================== Associated Messages, from the most recent to the oldest:

tax rate off by 1 cent (grichter@panavise.com (Gary Richter) 1997)

>Hi,>>Well. I have finally gotten everything to work. Now it is just a matter of>fine tuning our site.>>Still, the lingering 1 cent off in the [taxrate] of 8.5% of 249.00$ bothers>me. The tax ends up being 21.16$ while the grand total is 270.17$ Is there>anyway to make the [taxrate} round up as the [grandtotal] does?Kev I think you are in California. I was lucky and got out of there in1990. But your issue of the tax rate being off I think is mute. InCalifornia they issue you this little card that says if the sale is betweenx and y then charge z for tax. Then at the end of a month quarter or whatever reporting period you are under with the state franchise tax board youreport I had taxable sales of so much and then multiply by the tax rate andpay that amount. You will never collect the exact same amount in sales taxas you pay. It is gonna be off by a few cents or so at each reportingperiod. Even if for example every sale ( by computer) was 10.20 and youdid that 100 times your computer would probaly round down ( and you wouldunder collect in fractional pennies in each sale). And if the sale was10.79 a 100 times the computer would round the tax up to the next cent (you would over collect in fractional pennies in each sale). Now I might beall wet on this becuase California loves to come up with screwy new laws:). And they might have changed things since 1990. But the sales tax youpay the franchise tax board has nothing to do with what you collect. Itonly deals with the total taxable sales times the rate. If you forget tocollect the tax at the time of sale..guess who still has to pay the tax.Check with your accounting department or C.P.A. I think you will find thatthey will tell you the 1 cent is nothing to worry about that is unlessevery sale you make is 249.99 and you do that thousands of times a month :)The process is the same here in Nevada as explained above also, just adifferent rate.What I am driving at is that if ran ever number from 1 cent to 1,000dollars you are gonna find a situation where webcatalog or any computerprogram will calculate the tax rate off by 1 cent up or down. It has to dowith (in Basic they call it precision) how many extra decimal points youcarry around before you round back to $.00. You just happend to run intoor find a situation where the rounding got you by 1 cent.===============================================Gary Richter PanaVise Products, Inc. 7540 Colbert Dr. Reno, Nevada 89511 Ph: 702.850.2900 Fx: 702.850.2929 Email: grichter@panavise.com http://www.panavise.com=============================================== grichter@panavise.com (Gary Richter)

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tax rate off by 1 cent

1997

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