Store Taxes Settings allows you to create and manage various tax classes which are bound to the "Zones and Rates" directly. To create new tax class please click "Add Tax Class" button.
Store Taxes Settings - Zones and Rates
"Zones and Rates" tab allows you to set various tax zones and bound % rates for products with specific "Tax Class". You can enable/disable timezone, edit or remove them. To add new Tax Zone and Rate please click "Add Tax Zone" button.
Within the "Add New Tax Zone" block you can set Tax Zone title, choose necessary country, state (if available) and set % rate for each created "Tax Class".
In case you want to use the "Single Tax Rate" you need to enable it and set the required % rate. This value can also be used for the "Shipping Tax".