Creating one or more tax rates is an easy way to help stay in compliance with laws by collecting required tax amounts. TRYTN supports multiple tax rates so that you can apply only the tax rates you need to the products and add-ons that require them. To create a tax rate, navigate to Settings > Tax Rates and Fees and select the Add button. You will be presented with a form to create your tax rate.
Name is a required field for the name of the tax rate/fee. This name may be presented to both shop users and customers so name should be something descriptive. Quality examples include "State Sales Tax" or "Liquor Excise Tax".
Description is an optional field that better describes the tax being charged. This field may be presented to the customer to help them better understand their tax charges. An example description for "Amusement Tax" could be "A local tax charged to tourism and other activities"
Amount is the amount of the tax or fee. This field is required and is agnostic, meaning that if this is a percent or a flat amount always enter the same decimal value. A 1.75% tax would be entered as 1.75. A $2 tax/fee would be entered as 2.
Type is the type of tax/fee. This allows the system to know if the value in the Amount field is a percentage or flat amount when calculating taxes/fees.
Default Tax Rate/Fee is a checkbox that allows you to auto-apply this tax rate or fee to any new products or add-ons created. You can always remove this tax rate or fee if needed.
Once you have populated these fields select Save Changes. Repeat for any additional tax rates that you may need to charge.