Alabama SB365 authorizes rounding in-person cash transactions to the nearest five cents.

Alabama SB365 allows for the rounding of in-person cash transactions to the nearest five cents. The rounding follows specific rules based on the final digit of the transaction amount. The bill does not affect the sales price, tax collection, or surcharges. It applies only to cash transactions and does not alter electronic payments or transactions with governmental entities. The Department of Revenue must post a notice on its website about the rounding authorization.

Alabama SB365 authorizes rounding in-person cash transactions to the nearest five cents.

Alabama SB365 allows for the rounding of in-person cash transactions to the nearest five cents. The rounding follows specific rules based on the final digit of the transaction amount. The bill does not affect the sales price, tax collection, or surcharges. It applies only to cash transactions and does not alter electronic payments or transactions with governmental entities. The Department of Revenue must post a notice on its website about the rounding authorization.