SB1620

Missouri SB1620 modifies sales tax calculation for cash transactions, allowing rounding to the nearest five cents.

Missouri SB1620 modifies provisions relating to the calculation of sales tax for certain cash transactions. It allows vendors to round the total amount of sales tax due on a transaction to the nearest five cents. This rounding applies to the final total of the transaction after all items, discounts, and taxes have been calculated. The bill specifies that rounding does not apply to certain sections and prohibits vendors from charging more than the required sales tax. The provisions apply to all taxable transactions made on or after January 1, 1984.