Define rates for tax codes to specify the tax rate(s) to include in the tax code. For example, a tax code for South Carolina might include a federal sales tax, state sales tax, and city sales tax.
The system calculates the sum of all the tax rates specified for the tax code and displays the value in Total Tax % on the Record View page of the Tax Code form.
To define rates for tax codes:
-
Select Materials > Setup > Tax Codes.
-
Select the tax code for which to define rates, and then click the Rates tab.
-
Click Add Rate.
-
Specify this information:
Rate - Specify the rate used with this tax. The system automatically populates the rate description and Percentage.
-
Click Submit.
Currently, taxes cannot be applied on a per piece basis. Taxes are determined as
a percentage of the purchase price.
To remove a rate, select the rate to remove, and then click Remove Rate.