Bill > SB1620

This bill modifies how sales tax is calculated for certain cash transactions by allowing vendors, at their option, to round the final total of a cash sale to the nearest five cents, with specific rules for rounding down totals ending in $0.01, $0.02, $0.06, or $0.07, and rounding up totals ending in $0.03, $0.04, $0.08, or $0.09. This rounding is only applicable to the final transaction total after all items, discounts, and taxes have been calculated, and it explicitly does not apply to transactions paid by credit, debit, or other noncash methods, meaning the full amount of tax due, as determined by existing tax brackets, must still be remitted to the department of revenue for those transactions. The bill also clarifies that the amounts charged and received by a vendor in accordance with these provisions are not included in their gross receipts if they are separately stated, and it renumbers existing sections of the law.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=3237692