Click >Maintenance >Sale Tax Setup [Tax Class] TAB
Tax Class Codes are assigned to ITEMS in inventory maintenance and can be used to identify inventory that is taxed at different rates or reported to different entities.
Tax Class Codes do not have percentages, the tax percentages are tied to the tax class on the Tax Locale tab, even if you only have one Locale.
Example Tax Classes
General Merchandise
Liquor
Cigarettes
Clothing