Seemed too easy. Don't think I can add much given the information in front of me but see the tax rate note.

Here's what I have set with taxes only for a single State:
-Localization-Zone Definitions - Taxes, Payment and Shipping for the State (using the zone for the State of course)
-Localizations-Tax Rates with tax percentage for the zone for that State. YOUR RATE SHOULD BE SET AT 7.25 and not .0725. The entry field is percentage already.
-Modules-order total with tax installed and, yes, default sort of 300. Also subtotal and total of course.

Sounds like this is similar to what you have but that's all I can provide. I suppose it is possible that the .0725 didn't show depending on your setup and the order total you tested on.

Hope that's it, sorry I can't help any further.