North Carolina DOR Issues Directive on Cash Rounding Amid Penny Phase-Out

The North Carolina Department of Revenue (DOR) issued a sales and use tax directive providing guidance to retailers on rounding cash transactions due to the suspension of penny production. The directive states that rounding cash transactions after calculating sales tax does not impact the amount of sales and use tax due, and retailers must keep records documenting the rounding of cash transactions. [N.C. Dep’t of Revenue, Sales and Use Tax Directive 26-1, 01/22/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.