How do I set up taxes in WooCommerce?

If you are running an online store using WooCommerce, it is important to understand how to set up taxes correctly. This is because taxes are a legal requirement and must be collected and reported accurately. Knowing how to set up taxes in WooCommerce will ensure that you are compliant with the applicable laws and regulations, and that you are collecting the correct amount of taxes from your customers. Additionally, setting up taxes correctly can help you to maximize your profits and minimize your tax liabilities.