Rounding cash transactions to the nearest nickel when exact change is unavailable.
Tennessee HB1744 amends state laws to allow rounding cash transactions to the nearest nickel if exact change is not available. This applies to both public and private entities when accepting cash payments. The rounding rules specify different actions based on the final cents of the transaction amount. The bill also clarifies that rounding does not affect the calculation of sales tax or other assessments, which must still be remitted to the appropriate governmental entity in exact amounts. This change takes effect immediately upon becoming law.
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