Gasboy CFN III Manager Manual V3.6 - Manual (Page 92)

Setting Up Tax Tables How to Set Up a Tax Table
Page 10-4 MDE-4871 CFN III Manager’s Manual for Windows® XP Embedded - Version 3.6 · August 2010
Preparing a Compressed Description of Tax Data
If your local taxing authorities require a tax lookup table, Gasboy or your local distributor may
already have a compressed (short and concise) description of it. Otherwise, use the
instructions in this section to compose a compressed description of each tax table you will use.
(an example of a compressed description follows item 7 in the list immediately below).
1 Obtain a complete tax lookup table from the taxing authorities. Using the instructions in this
section, you will examine your tax table and prepare a compressed description of it. Then you
will enter the compressed description into the CFN3 software.
2 You will require to determine what type of tax table you are using, type 1 or type 2.
• Type 1 taxes are determined from a lookup table only.
• Type 2 breaks the taxable amount into two parts. The first part is a whole dollar amount,
with its tax calculated at a percentage, possibly rounded. The second part of the taxable
amount is the remainder after the whole dollar amount is taken out. Its tax is calculated by
the table lookup (similar to the type 1 lookup table). The total tax is the sum of the tax on
the two parts.
3 Construct a worksheet for the tax table. Include the following columns (refer to the sample
graphic that follows):
Option Description
From In this column, write the low amount in each range of taxable amounts
for which a constant tax amount applies. For example, a customer may
pay a tax of $0.03 on any sales amounts from $0.46 to $0.63. You will
place $0.46 in the From column for that range.
To In this column, write the high amount in the range, for example, $0.63 in
the example immediately above.
Tax For each range, write the tax charged on the amounts in the range.
Amt Diff Subtract the From amount of the preceding range from the From amount
of the current range, and write the result in this column.
Tax Diff Subtract the Tax amount on the preceding row from the Tax amount on
the current row, and write the result in this column.
The sample graphic below shows information from a typical tax table. The columns labeled
From, To, and Tax correspond to the columns on a tax table like those issued by taxing
authorities. The columns labeled Amt Diff and Tax Diff have been calculated from the tax
table information. The Tax Diff is usually a constant.
Note: In the sample table, it is always $0.01.