Tax Options

General Information

Default Tax Rates - The FRAZER system requires that you enter the appropriate tax rate for your location.  You can enter multiple tax rates if there are different jurisdictions, such as State or City.  The system will total the tax rates to compute the total tax rate.  Along with the tax rates, a maximum tax per sale can be entered for each type of tax.  In most cases, this field is left at zero.  However, if the maximum amount that you can tax on a sale is $5000 and the tax rate is 2%, then enter the maximum tax as $100.00.

Note: Tennessee Locations - Along with the tax rates and maximum tax per sale, you can also enter a minimum price to start figuring tax and whether the TAX is taxable.

Sales Tax Remittance - There are also options for designating when the sales tax is paid on vehicle sales.  Choices include tax paid in full at the time of sale or as payments are made.  There is also a check box for outside financing sales, to determine when the tax should be remitted based on when payment is received from the lien holder.

Changing Tax Rates on a Sale - The default tax rates that have been entered in the System Options screen can be modified when entering a sale, by clicking on the Change / Review button on the sales screen (located under the vehicle price).  Each of your four default tax rates appear here, and can be changed for a particular sale.  At the top of this screen, the amount on which taxes are being calculated is listed, and the tax will be recalculated as soon as the rates are changed.  Note: Changing the tax rate in the sales screen will only change it for that particular sale.  The default tax rate that was set up in System Options will be applied to any subsequent sales, unless manually changed again. 

How Do I Get There?