You may create as many different tax rules in your store as you like. Step 6 of the Account Setup Wizard will guide you through setting up your first one.

Sales Tax Name
If the sales tax is incurred by the customer, then this name will be displayed in the customer's basket next to it's value. It's recommended that the Sales Tax Names be kept descriptive and short.

 
Sales Tax Type
Sales Taxes may be triggered by the customer's country, state or zip code. (In the standard Tax Editor, taxes may also be configured to be triggered by a combination of these as well.)

 
Sales Tax Value
Enter the numeric value of the tax, and whether it is a flat fee (ie: $1.23 dollars) or a percentage of the order total.

 
Sales Tax Zone
Select the criteria that will trigger the Sales Tax. The options listed here will change, depending on the value selected in the Sales Tax Type option.