Step 2. Defining tax rates - HxGN EAM - 12.0.1 - Help - Hexagon

HxGN EAM Help

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HxGN EAM Version
12.0.1

Define tax rates to build the second level of tax coding. Before creating a tax rate, create tax rate types on the Tax Rate Type form.

Create a tax rate, such as "SC TAX" to represent a South Carolina state tax, and then associate that tax rate with a tax rate type, such as a sales or excise tax rate type. The combination of a tax rate type and a tax rate represent the definition of a tax rate code. You can also indicate whether to include the tax rate code in stock valuation.

To define tax rates:

  1. Select Materials > Setup > Tax Rates.

  2. Click New Record.

  3. Specify this information:

    Tax Rate - Specify a unique code identifying the tax rate, and then specify a description of the tax rate in the adjacent field.

    Type - Specify the type of tax rate.

    Include Part Taxes in Stock Value - Select to include tax in inventory calculations of stock value.

    Include Service Taxes in WO Cost - Select to include tax in service calculations of work order costs.

  4. Click Save Record.