To create taxonomies, you must belong to a role that has the "Manage Taxonomies" permission. Besides allowing you to create taxonomies, this permission allows you to edit and delete any user-defined taxonomy (the predefined taxonomies provided by CentraSite can be modified in certain ways, but cannot be deleted). By default, users in the CentraSite Administrator or Asset Type Administrator role have this permission, although an administrator can grant this permission to other roles.
If you do not belong to a role that includes the "Manage Taxonomies" permission, you can edit and delete a taxonomy if:
You have the appropriate instance-level permissions (i.e., Modify or Full permission) on the taxonomy.
—AND—
You belong to a role that includes the "Use the Administration UI" permission.
For more information about permissions, see the section About Roles and Permissions in the document Users, Groups, Roles and Permissions.