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A common tax scenario
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From
22/05/2012 22:50:18
 
 
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General information
Forum:
ASP.NET
Category:
Other
Title:
A common tax scenario
Environment versions
Environment:
VB 9.0
OS:
Windows 7
Network:
Windows 2003 Server
Database:
MS SQL Server
Application:
Web
Miscellaneous
Thread ID:
01544104
Message ID:
01544104
Views:
98
Here is a common tax scenario that we have seen in many applications. There is a federal tax, which we apply on an amount and then we add on top of this total a province/state tax.

Lets take the example of Quebec province. Presently, they are bound to 5% federal tax and 9.5% provincial tax. So, if the amount if 500.00$, we obtain 25.00$ for the federal tax and 49.88$ for the provincial tax. (500.00$*5%*9.5%=574.88$)

In a given application, someone has decided to include the total of both taxes in the same field. So, basically, taking the above example, the tax field would then be 74.88$.

So, in that application, we do not have a field for the federal tax, we do not have a field for the provincial tax and I do not even have the amount which contributed to give this 74.88$ tax. From the 74.88$ amount, I then need to reverse the process and extrapolate the 25.00$ federal tax and the 49.88$ provincial tax.

This should be a simple formula but I just can't find it.
Michel Fournier
Level Extreme Inc.
Designer, architect, owner of the Level Extreme Platform
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