Portfolio Taxonomy

// Portfolio Custom Post Type
$labels = array(
    'name' => _x('Portfolio', 'post type general name', 'site5framework'),
    'singular_name' => _x('Portfolio', 'post type singular name', 'site5framework'),
    'add_new' => _x('Add New', 'work', 'site5framework'),
    'add_new_item' => __('Add New Portfolio', 'site5framework'),
    'edit_item' => __('Edit Portfolio', 'site5framework'),
    'new_item' => __('New Portfolio', 'site5framework'),
    'view_item' => __('View Portfolio', 'site5framework'),
    'search_items' => __('Search Portfolio', 'site5framework'),
    'not_found' =>  __('No work found', 'site5framework'),
    'not_found_in_trash' => __('No portfolio entry found in Trash', 'site5framework'),
    'parent_item_colon' => ''
  );
register_post_type('portfolio', array(
     'labels' => $labels,
     'singular_label' => __('portfolio'),
     'public' => true,
     'show_ui' => true, // UI in admin panel
     '_builtin' => false, // It's a custom post type, not built in!
     '_edit_link' => 'post.php?post=%d',
     'capability_type' => 'post',
     'hierarchical' => false,
     'rewrite' => array("slug" => "portfolio"), // Permalinks format
     'supports' => array('title','editor','thumbnail')
));

register_taxonomy("portfoliocat", array("portfolio"), array("hierarchical" => true, "label" => "Portfolio Category", "singular_label" => "Portfolio Category", "rewrite" => true));