Tuesday, 16 December 2014

What is a (Tax) Jurisdiction Code?



A Jurisdiction Code, used in countries such as the United States, is a combination of the codes defined by tax authorities. It is possible to define up to four tax levels below the federal level. The four levels can be the:
􀂃 Sub-city level
􀂃 City level
􀂃 Country level
􀂃 State level
Before you can use the jurisdiction codes for tax calculation, you need to define the following:
1. Access Sequence (to include the country/tax code/jurisdiction fields)
2. Condition Types (which references the access sequence as defined above)
3. Jurisdiction Codes

The tax rates are defined in the tax code by jurisdiction. When posting taxes with a jurisdiction code, note that the taxes may be entered per jurisdiction code or per tax level.

No comments:

Post a Comment