function wc_update_200_taxrates() {
	global $wpdb;

	// Update tax rates.
	$loop      = 0;
	$tax_rates = get_option( 'woocommerce_tax_rates' );

	if ( $tax_rates ) {
		foreach ( $tax_rates as $tax_rate ) {

			foreach ( $tax_rate['countries'] as $country => $states ) {

				$states = array_reverse( $states );

				foreach ( $states as $state ) {

					if ( '*' == $state ) {
						$state = '';
					}

					$wpdb->insert(
						$wpdb->prefix . 'woocommerce_tax_rates',
						array(
							'tax_rate_country'  => $country,
							'tax_rate_state'    => $state,
							'tax_rate'          => $tax_rate['rate'],
							'tax_rate_name'     => $tax_rate['label'],
							'tax_rate_priority' => 1,
							'tax_rate_compound' => ( 'yes' === $tax_rate['compound'] ) ? 1 : 0,
							'tax_rate_shipping' => ( 'yes' === $tax_rate['shipping'] ) ? 1 : 0,
							'tax_rate_order'    => $loop,
							'tax_rate_class'    => $tax_rate['class'],
						)
					);

					$loop++;
				}
			}
		}
	}

	$local_tax_rates = get_option( 'woocommerce_local_tax_rates' );

	if ( $local_tax_rates ) {
		foreach ( $local_tax_rates as $tax_rate ) {

			$location_type = ( 'postcode' === $tax_rate['location_type'] ) ? 'postcode' : 'city';

			if ( '*' == $tax_rate['state'] ) {
				$tax_rate['state'] = '';
			}

			$wpdb->insert(
				$wpdb->prefix . 'woocommerce_tax_rates',
				array(
					'tax_rate_country'  => $tax_rate['country'],
					'tax_rate_state'    => $tax_rate['state'],
					'tax_rate'          => $tax_rate['rate'],
					'tax_rate_name'     => $tax_rate['label'],
					'tax_rate_priority' => 2,
					'tax_rate_compound' => ( 'yes' === $tax_rate['compound'] ) ? 1 : 0,
					'tax_rate_shipping' => ( 'yes' === $tax_rate['shipping'] ) ? 1 : 0,
					'tax_rate_order'    => $loop,
					'tax_rate_class'    => $tax_rate['class'],
				)
			);

			$tax_rate_id = $wpdb->insert_id;

			if ( $tax_rate['locations'] ) {
				foreach ( $tax_rate['locations'] as $location ) {

					$wpdb->insert(
						$wpdb->prefix . 'woocommerce_tax_rate_locations',
						array(
							'location_code' => $location,
							'tax_rate_id'   => $tax_rate_id,
							'location_type' => $location_type,
						)
					);

				}
			}

			$loop++;
		}
	}

	update_option( 'woocommerce_tax_rates_backup', $tax_rates );
	update_option( 'woocommerce_local_tax_rates_backup', $local_tax_rates );
	delete_option( 'woocommerce_tax_rates' );
	delete_option( 'woocommerce_local_tax_rates' );
}