As of July 1st the state sales tax is being reduced by 1%. Here is our suggestion for how to handle the change. Since we don’t know if the state will change it back, my suggestion is to create a new tax location. LEARN MORE
1. In Version 9 and earlier, go to the Edit Menu and select Company Preferences. In Version 10, select File, Preference, Company from the home screen.
2. Select Sales Tax
3. Click on add tax location and name it July 1st
4. Click edit tax code
5. Depending on your location, your rate will vary between 7.25 and 8.5 %. Basically, it will be 1% less than it is now.
6. The last step is before you open on July 1st, change your default tax location to July 1st.
7. The reason we set up a new tax location is you never know if they might change it back and this process will make it easy to switch if needed.