Menu Path
Materials > Setup > Tax Rates
Description
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 screen. 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.