Article: Increase Restaurant And Bar Profits By Collecting The Right Sales Tax
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Increase Restaurant And Bar Profits By Collecting The Right Sales Tax
Smart Tax - The RIGHT Way Of Collecting Sales Tax
The History
Inclusive sales tax has been around since the creation of the sales tax. It is simply selling the item with tax included in the price. This is very popular in European countries and Canada. In the United States it is most popular in bars and for admission to movie theaters and theme parks.
For the purposes of calculating the sales total and change due this makes perfect sense. In operations such as bars, this is a perfect application for inclusive tax. Charge a rounded up price for the drink and include the tax in the price. The sale is easily tallied and change given without much need for small change.
To compute the actual price of the item a calculation must be made ...
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