Thanks for dropping by the Community, @technocd01.
I’m here to guide you on modifying the tax rates in QuickBooks Online.
Updating it only affects future transactions. Once changed, you can no longer use the earlier rate. Let me show you how:
Check out this article for more information: Edit Sales Tax Rate in QuickBooks Online.
The setting above is for users with the Manual Sales Tax. If the steps aren’t available on your account, it’s possible you’re using the new Automated Sales Tax.
QuickBooks applies taxes to your business, set them up, and automatically track sales for you. For reference, take a look at this article: Set up and use Automated Sales Tax.
That should get you pointed in the right direction.
Leave a comment below if you have any other concern. I’m always here to keep helping. Take care and have a good one!