[Plugin: Custom Post Permalinks] Custom post type and custom taxonomy

I created a custom type post COMPANY
and created a custom taxonomy LOCATION

this custom post type:

$labels = array(
        'name' => 'Company',
        'singular_name' => 'Company',
    );
    $args = array(
        'labels' => $labels,
        'public' => true,
        'publicly_queryable' => true,
        'show_ui' => true,
        '_builtin' => false,
        'query_var' => true,
        'rewrite' => array( 'slug' => '/%location%','with_front' => false ),
        'capability_type' => 'post',
        'hierarchical' => false,
        'menu_position' => 5,
        'taxonomy' => array('cat','location'),
        'permalink' => EP_CATEGORIES,
        'supports' => array('title','thumbnail','editor'/*,'excerpt'/*,'custom-fields'*/)
    );

    register_post_type('company',$args);

this custom taxonomy:

register_taxonomy(
        'location',
        array( 'company' ),
        array(
            'public' => true,
            'hierarchical' => true,
            'labels' => array( 'name' => 'Location', 'singular_name' => 'Location' ),
            'show_ui' => true,
            'query_var' => 'location',
            'rewrite' => array( 'slug' => 'location' )
        )
    );

in SETTING -> PERMALINK
I used the shape of the permalink: /%company%.html
work and you see the page
but when I try to introduce the taxonomy does not work
I tested: /%location%/%company%.html
but the address I get this: mysite.com/%location%/name-company.html
where is the problem?