Tax Info

Tax Entity

Enter the address number of the tax authority to which property taxes are paid.

Tax Rate/Area

Enter a code that identifies an area that has common tax rates and tax authorities. The system validates this code against the Tax Areas table (F4008).

Tax Expl Code (tax explanation code)

Enter a hard-coded value from UDC 00/EX that specifies the algorithm to use to calculate tax and GL distribution amounts.

The system uses the tax explanation code in conjunction with the tax rate area and tax rules to determine how the tax is calculated.