Rates may be used to do any number of calculations for a taxpayer, such as assessments for filing based tax types, real property taxes, complicated penalty and interest rules or interest calculations for overpayments.
The rate controls:
How charges are calculated.
How the charges appear aesthetically on the taxpayer's bills, for billed obligation types.
How the general ledger is affected by the charges.
In this section, we explain how to set up your organization's rates.
Refer to How Rates Affect The Information On A Bill for how billing uses the information in a rate to calculate a bill segment.
Not all obligations reference a rate. It's important to understand that the system may not determine the applicable rate for a calculation solely from the obligation. For example, the rate used to calculate an assessment may be referenced on the tax form type. Whether or not an obligation uses a rate and the list of rates that can be specified on an obligation are controlled by the obligation's obligation type.
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