Alaska HB281 allows sellers to round cash transactions to the nearest five cents.
Alaska HB281 modifies the state's tax code to allow sellers to round cash transactions to the nearest five cents. This rounding applies only to cash payments, not electronic funds transfers or credit/debit cards. The rounding method involves summing the total price, including discounts and taxes, then adjusting the total to the nearest five cents based on the last digit. This bill exempts such rounding from state and local taxes.
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