Custom Taxonomy Permalink Issues!

I’ve been looking around but I can’t seem to find the answer. I have two custom taxonomies for my custom post type. One is hierarchal and used as categories, the other is not and used as tags.

This is my code:

add_action( 'init', 'build_taxonomies', 0 );

function build_taxonomies() {
    register_taxonomy( 'type', 'clipping', array( 'hierarchical' => true, 'label' => 'Clipping Category', 'query_var' => true, 'rewrite' => true ) );

}

add_action( 'init', 'tag_taxonomies', 0 );

function tag_taxonomies() {
    register_taxonomy( 'tag', 'clipping', array( 'hierarchical' => false, 'label' => 'Clipping Tags', 'query_var' => true, 'rewrite' => true ) );

}

The strange thing is that on my blog, if I click on a category for any post, for example ‘print’, I’m correctly taken to the corresponding page:
example.com/type/print

If I click on a tag, for example “resumes”, I’m taken to this:
example.com/tag/resumes
HOWEVER, it’s a 404. I’ve tried checking my permalink settings, which I’m guessing that’s what it has to do with, but I can’t figure out why one works and the other doesn’t.

Any ideas?