Texas Sales Tax: New Cash Rounding Rules as Pennies Disappear—What Retailers Must Know

• Texas sales tax must still be calculated to the penny, even if pennies are unavailable.
• Cash payments may be rounded only within strict limits; rounding by more than $0.04 can trigger extra tax.
• Rounding rules apply only to cash transactions, not electronic or check payments.
• Businesses should document rounding policies and consider electronic payments to reduce compliance risks.
• The Texas Comptroller clarified these rules due to the end of U.S. penny production.

Source: taxcloud.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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