When your company receives notification that a new tax rate will go into effect as of certain date, you will add a new Tax Rate record with a start date provided to you by the taxing jurisdiction. Follow the instructions below.
From the main menu, arrive at the Sales Tax setup with this path: Setup > Accounting > Sales Tax.
The Sales Tax list will be displayed. Locate the Sales Tax record for which you need to enter a new tax rate, and then click the Rates button.
The Rates list will be displayed for the select Sales Tax record. Click on the Add Sales Tax Rate button at the upper left.
The Sales Tax Rate Edit form will be displayed. In the Tax Rate field, enter the tax rate. In the Start Date field, enter the date this tax rate will go into effect. Click the Save button when finished.
You will be returned to the Rates list. You should see a new row in the grid with the new tax rate and start date for your Sales Tax record. For the original Sales Tax Rate record, the software automatically will set the End Date to one day before the new rate goes into effect.
Click the Back button at the upper right to return to the Sales Tax listing.
