Under Related Tasks, select Add/edit tax rates and agencies.
In the Sales Tax Rates and Agencies table, choose the rate you want to change and select Edit.
In the Edit Sales Tax Component window, change the rate. You can also change the component name if you like.
Choose Save. Once done, it returns to the sales Tax rates and Agencies table and highlights the rate you changed.
What happens when you edit a sales tax rate:
The new rate is available for new transactions only
If you create a new transaction but use dates in the past, the transaction uses the new rate
After you edit a rate, the earlier rate can no longer be used
Existing transactions that used the earlier rate remain unchanged unless you edit the transaction and specifically select a different sales tax rate
For recurring templates that use the changed component, new transactions created with the template use the new rate. Existing transactions created with the template and the earlier rate remain unchanged
Reports show the data for both rates (before and after) if there are transactions for both the rates in a particular period