Step 1. Defining tax rate types

Define tax rate types to specify tax rate classifications corresponding to base tax rates, such as taxable and nontaxable. Use tax rate type codes to identify the type of tax, such as sales tax, internal tax, excise tax, or an import tax.

To define tax rate types:

  1. Select Materials > Setup > Tax Rate Types.
  2. Click New Record.
  3. Specify this information:
    Tax Rate Type
    Specify a unique code identifying the tax rate type, and then specify a description of the tax rate type in the adjacent field.
  4. Click Save Record.
Parent topic: Defining tax codes