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Committee considers rounding rules for cash sales as pennies phase out
Summary
House Finance heard HB 2,334, which would require rounding cash transactions to the nearest five cents using specified rules and exempt non‑cash payments; retail and grocery groups generally supported the clarity but requested amendments for tax treatment, SNAP equal‑treatment and local ordinance conflicts; staff noted DOR estimates affecting about 400,000 taxpayers and one‑time expenditures for software and guidance.
House Finance took testimony on House Bill 2,334, a bill that sets a state standard for rounding cash transactions to the nearest nickel after the U.S. Mint ceased producing pennies. Committee staff Tracy Taylor told the committee that rounding applies to the transaction total — after taxes and fees — and only to payments made in legal tender. "Under House Bill 2,334, for purchases made by legal tender, if the total price ends in 1¢, 2¢, 6¢, or 7¢, the amount must…
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