diff --git a/plugins/woocommerce-admin/client/analytics/report/taxes/table.js b/plugins/woocommerce-admin/client/analytics/report/taxes/table.js
index 7146faac1d720..f26139c68674b 100644
--- a/plugins/woocommerce-admin/client/analytics/report/taxes/table.js
+++ b/plugins/woocommerce-admin/client/analytics/report/taxes/table.js
@@ -131,7 +131,7 @@ class TaxesReportTable extends Component {
 		} );
 	}
 
-	getSummary( totals ) {
+	getSummary( totals, totalResults = 0 ) {
 		const {
 			tax_codes: taxesCodes = 0,
 			total_tax: totalTax = 0,
@@ -143,7 +143,16 @@ class TaxesReportTable extends Component {
 		const currency = getCurrencyConfig();
 		return [
 			{
-				label: _n( 'tax code', 'tax codes', taxesCodes, 'woocommerce' ),
+				label: _n( 'tax', 'taxes', totalResults, 'woocommerce' ),
+				value: formatValue( currency, 'number', totalResults ),
+			},
+			{
+				label: _n(
+					'distinct code',
+					'distinct codes',
+					taxesCodes,
+					'woocommerce'
+				),
 				value: formatValue( currency, 'number', taxesCodes ),
 			},
 			{
diff --git a/plugins/woocommerce/changelog/fix-49635-tax-totals b/plugins/woocommerce/changelog/fix-49635-tax-totals
new file mode 100644
index 0000000000000..de1bbffb7fbf4
--- /dev/null
+++ b/plugins/woocommerce/changelog/fix-49635-tax-totals
@@ -0,0 +1,4 @@
+Significance: patch
+Type: tweak
+
+Distinguish taxes and tax codes in the report table summary