Is it possible to link the same Tax Jurisdiction to more than one tax?

Summary:

What is the correct way to create a new Tax within an existing Tax Regime, in regard to the Tax Jurisdiction?

Content (please ensure you mask any confidential information):

We are implementing a new Transaction Tax within the existing Tax Regime, with the aim to create new Tax Rates for a new Business Unit.

We cannot link the new Tax with the already existing Tax Jurisdiction (Manage Taxes > Tab Tax Jurisdictions & Tax Rule Defaults). It is only possible to leave the line blank or to concurrently create a new Tax Jurisdiction. What would be the consequences of one option or another?