How to add tax name and percent?

How to add tax name and percent?

To add tax name and percent or tax details, follow the steps given:

Step 1:
       Select the Inventory module and then select the Create Items under the Item Details menu.
                                 (Inventory-->Item Details-->Create Items)

Step 2:
        Select Inventory Tax Master option. Click on +Tax Master.

Step 3:
        Give the tax name and tax(%) percent then click on Save.