MANAGE TAXES

INTRODUCTION

The Manage Tax feature enables retailers to create class-based tax rates as set by a state, providence, city, etc.

This document is a resource for retailers to understand how to:
Create a Tax Rate
Edit a Tax Rate
Delete a Tax Rate
Create a Tax Free Weekend
Delete a Tax Free Weekend

 

CREATE A TAX RATE

Follow the steps below to create a class-based tax rate for a store.

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

3. Enter the tax rate description in the Description field

 

4. Click Add to List

Note: The tax rate description will appear in the Tax List.

5. If necessary, repeat Steps 3&4 for each additional tax rate (i.e., City Tax or County Tax)

6. Locate and click New Instance next to the tax rate description to add a tax rate percentage

 

Note: After New Instance is clicked, the tax rate options will display.

7. Click or enter the Tax Rate Options

Options:

Class – Click the class or classes to apply the tax rate. If the tax rate applies to all classes, skip to Rate field.

Rate(%) – Enter the tax rate percentage.

TOT (Tax Over Threshold) – Enter a dollar amount if the tax will only apply to an item over that amount.

OTOT (Only Tax Over Threshold) – Check this option if only the dollar amount exceeding the TOT is taxed.

Start Date – Enter the date the tax rate will take effect.

End Date – Enter the date the tax rate will end.

 

8. Click Update

Note: If additional tax rates were added in Step 5, repeat Steps 6-8.

9. Click Save

 

EDIT A TAX RATE

Follow the steps below to edit a class-based tax rate or to add a new tax instance.

CLASS-BASED TAX RATE

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, the current tax rate description(s) will populate.

3. In the tax list, locate and click on the tax rate description under which a class-based tax rate will be edited

 

4. Click Edit next to the class-based tax rate to be edited

5. If necessary, edit the Rate %, TOT, OTOT, Start Date and/or End Date fields

 

6. Click Update

Note: The class-based tax rate will update on the description list but the edit will not save until Step 7.

7. Click Save

NEW TAX INSTANCE

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, the current tax rate description(s) will populate.

3. In the tax list, locate and click New Instance next to the tax rate description under which a new tax instance will be created

4. To add a tax instance, follow Steps 7-8 of Create a Tax Rate

 

 

DELETE A TAX RATE

Follow the steps below to delete a class-based tax rate and/or tax rate description.

DELETE CLASS-BASED TAX RATE

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, the current tax rate description(s) will populate.

3. In the tax list, locate and click on the tax rate description under which a class-based tax rate will be deleted

4. Click Delete

 

5. Click Save

 

DELETE TAX RATE DESCRIPTION

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, the current tax rate description(s) will populate.

3. Follow the Delete Class-Based Tax Rate steps in order to delete a tax rate description

4. After all class-based tax rates are removed from the tax rate description, click Delete to delete a tax rate description

 

5. Click Save

 

CREATE A TAX FREE WEEKEND

Follow the steps below to create a class-based tax free weekend. RICS recommends creating a tax free weekend in advance.

TAX FREE WEEKEND WITHOUT A THRESHOLD

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, the current tax rate description(s) will populate.

3. In the tax list, locate and click new instance next to the tax rate description under which the tax free weekend will be created

 

4. Enter the Tax Rate Options

Options:

Class – Select the class or classes under which a tax rate will not be charged

Rate(%) – Leave at zero

Start Date – Enter the tax free weekend start date.

End Date – Enter the tax free weekend end date.

Note: The tax free weekend will end at 11:59pm on the end date entered and revert back to the current tax rate.


5. Click Update

Note: If a class or classes are selected in Step 4, a class-based tax free rate line will display for each class selected.

 

Note: The class-based tax free rate will update on the description list but the creation will not save until Step 6.

6. Click Save

TAX FREE WEEKEND WITH A THRESHOLD

1. In the RICS Back Office, go to Setup :: Manage Store::Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, a store’s current tax rate description(s) will populate.

3. In the tax list, locate and click new instance next to the tax rate description under which the tax free weekend will be created

 

4. Enter the Tax Rate Options

Options:

Class – Select the class or classes under which a tax rate will not be charged

Rate(%) – Enter the normal tax rate

TOT (Tax Over Threshold) – Enter the dollar amount at which tax will begin to be charged. For example, if items under $100 are tax exempt, enter $100.

OTOT (Only Tax Over Threshold) – Check this option to only charge tax on the dollar amount exceeding TOT. For example, if the threshold is $100 and an item is purchased for $125, check this box to only charge tax on $25 of the item cost.

Start Date – Enter the tax free weekend start date.

End Date – Enter the tax free weekend end date.

Note: The tax free weekend will end at 11:59pm on the end date entered and revert back to the current tax rate.


5. Click Update

Note: If a class or classes are selected in Step 4, a class-based tax free rate line will display for each class selected.

 

Note: The class-based tax free rate will update on the description list but the creation will not save until Step 6.

6. Click Save

 

DELETE A TAX FREE WEEKEND

Follow the steps below to delete a tax free weekend.

1. In the RICS Back Office, go to Setup :: Manage Store :: Tax Setup

2. To select a store, enter or search for the store number in the Store Number field

Note: After the store is loaded, the current tax rate description(s) will populate.

3. In the tax list, locate and click on the tax rate description under which the tax free weekend will be deleted

4. Click Delete next to each class-based tax free rate to remove all tax free weekend instances

 

Note: The class-based tax free rate will update on the description list but the delete will not save until Step 5.

5. Click Save

 

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