West Virginia HB4476 proposes rounding monetary transactions to the nearest five cents.

West Virginia HB4476, known as the West Virginia Common Cents Act, mandates rounding monetary transactions to the nearest five cents. If the transaction ends in one, two, six, or seven cents, it rounds down; if it ends in three, four, eight, or nine cents, it rounds up. This rounding applies to in-person sales and excludes transactions of four cents or less and those paid by instruments like credit or debit cards. The act also exempts any tax imposed by state or municipal taxing authorities from applying to rounding gains or losses.

West Virginia HB4476 proposes rounding monetary transactions to the nearest five cents.

West Virginia HB4476, known as the West Virginia Common Cents Act, mandates rounding monetary transactions to the nearest five cents. If the transaction ends in one, two, six, or seven cents, it rounds down; if it ends in three, four, eight, or nine cents, it rounds up. This rounding applies to in-person sales and excludes transactions of four cents or less and those paid by instruments like credit or debit cards. The act also exempts any tax imposed by state or municipal taxing authorities from applying to rounding gains or losses.