Referencing this post here:
It appears that there is not a way to acheive results like this :
I'll use the movie site as an example:
"movies" I'm assuming is the custom post type.
whereas genres could be classified as a taxonomy.
Would it be possible to assign the "movies" custom post type a permalink url of "%movies%"/%genre%/ or something of that nature, Where you can nest taxonomies into the permalink structure.
The only other way I could envision doing this is creating the Custom Post Type "movies" as Hierarchical and at the top level of this post type creating genre's "Comedy, Horror, Action" , then creating additional "movie" post types underneath their relevant genre.
Ultimately, I hope to be able to add my movies , making mandatory genre (taxonomy) selections from the Add Movie screen and having, the Permalink build according to what is selected.