Create and configure tax statuses

Create and configure the tax statuses you need for transactions in Oracle Fusion Cloud to get taxes from Tax DeterminationGlobal Tax Determination

Create tax statuses

Note:

Go to My Enterprise > Setup and Maintenance.
Click the Task icon, then click Search.
Enter Manage Taxes in the search field, then click the Search icon and select Manage Taxes from the results.
Click the Create icon.
Enter the following information:

Tax Regime Code
Enter SOVOS US TAX REGIME.
Configuration Owner
Enter Global configuration owner.
Tax
Enter State Sales/Use Tax.
Tax Status Code
Enter STANDARD.
Tax Status Name
Enter STANDARD.
Set as default tax status
Select this option.

Note:
The Start Date and Default Start Date are set to 1/1/17 by default. You should continue to use this date as the start date throughout the installation process.
Click Save and Create Another.
Repeat steps 5-6 for County Sales/Use Tax and Local City/District SUT.
After creating Local City/District SUT, click Save and Close instead of Save and Create Another.

Note:

Go to My Enterprise > Setup and Maintenance.
Click the Task icon, then click Search.
Enter Manage Taxes in the search field, then click the Search icon and select Manage Taxes from the results.
Enter SOVOS US TAX REGIME in the Tax Regime Code field, then click Search and select State Sales/Use Tax from the results.
Click Edit.
On the Tax Rule Defaults tab, select Tax Jurisdiction from the Indirect Defaults list, then click Edit Default.
Click the Add icon to add a row.
Select any jurisdiction as the default rate.
It does not matter which one you choose, as Tax Determination will override the default rate.
Enter 1/1/17 in the Start Date field.
In the Direct Defaults section, select Applicable from the Tax Applicability dropdown.
Click Save and Close to exit the editing view.
Open the tax again and click Verify Tax Configuration.
Click Edit.
Select Enable for Tax Simulation and Enable for Transactions.
If everything looks correct, click Save and Close.

CAUTION: Make sure all the tax information is correct, as you will not be able to change these settings after saving.

Repeat these steps for counties and locals.