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| The Tax table will store tax name and tax rate for use when loading product contracts. The Tax Type could be set as an amount or percentage. Tax rates can be set at contract loading but any change to tax rates would require individual contracts to be amended. By associating a TaxID to a location level, any contract that is using any particular LocationID/TaxID would automatically be updated. The TaxID could also be used at Contract level. If New York hotel occupancy tax was set at $2.00 per room per night and this changed to $2.25 per room per night, by changing the rate for the TaxID, any Location or Contract using the particular TaxID would automatically reflect the change. |
| Tax Table | |
| TaxID | system allocated |
| TaxName | User definable. e.g. Florida Sales Tax |
| TaxType | 'Tax is not a percentage' checkbox. Default is unchecked which means the value input is a percentage. If checked, the value is an Amount. A drop down selector for Amount/Percentage would also work. |
| TaxRate | If TaxType is Percent then TaxRate is a Percenatage. If TaxType is Amount then TaxRate is an Amount. 4 decimal places should be sufficient. |
Example: A Property Contract for a hotel in Kissimmee Florida is loaded into Acres. There are 2 taxes that need to be applied for contracts that do not already include tax. Sales Tax of 6% (Set at Region location level FL/Florida as 'Non-Exclusive'. Tourism Tax of 7% (Set at District location level Osceola County as 'Non-Exclusive'. If Florida decide to change their tax rate, the change only needs to be made once at Region level and any product contracts asociated with the TaxID will automatically reflect the new tax rate instantly. |
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| ACRES: Tables | |
| Currency | Currency codes and names. Linked to Country table and Rate of Exchange table. |
| CurrencyROE | Rate of Exchange |
| Tax | Tax rates that may be applied to product contracts. |
| Locations: | see acres dev Ref:080101-00 |
| LocationGeoCountry | |
