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Materials > Setup > Tax Codes
Description
Define tax codes to apply to materials and purchases. Tax codes represent the definition of tax coding structure that consists of a tax rate type, a tax rate code, a value for tax rate code, a tax code, and a value for the tax code.
Tax code records represent the combination of tax rate codes and tax code information that establish a structure that will apply all of the applicable taxes to materials and purchases based on transaction dates and the established tax structure created within a tax code. You can create any number of tax codes to fit any tax situation. You can also enter multiple rate codes for each tax code, as necessary.