- States are issuing guidance on handling sales tax rounding due to the federal phase-out of the penny.
- Guidance is available from Florida, Georgia, Iowa, Kentucky, Michigan, New Jersey, North Carolina, Tennessee, and Texas.
- Each state provides specific documents or notices addressing how to manage transactions without pennies.
- TWIST will continue to track and provide updates and links to state guidance.
Source: kpmg.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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