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| Re: So, if the dollar bill were eliminated... (942781) | |||
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Re: So, if the dollar bill were eliminated... |
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Posted by AlM on Fri May 18 10:31:18 2012, in response to Re: So, if the dollar bill were eliminated..., posted by Terrapin Station on Fri May 18 09:47:34 2012. Still not clear what's stupid about that. There are various state laws that say you must levy sales tax separately, and to the nearest penny.Here's an example. Suppose you want something to cost $4.60 after tax and your tax rate is 8.875%. Well, if you price it at $4.22 before tax, the price after tax after rounding to the nearest penny is $4.59. But if you price it at at $4.23 before tax, the price after tax after rounding to the nearest penny is $4.61. You just can't get to a price after tax of $4.60. So all state laws related to mandatory pricing to the nearest penny would have to be voided. I think that's what Dan meant. |
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