South Carolina DOR Clarifies Sales Tax Reporting Amid Penny Production Halt

The South Carolina Department of Revenue (DOR) has issued an information letter, effective Jan. 22, addressing how retailers should handle sales tax reporting following the federal government’s discontinuation of penny production. The letter clarifies that, regardless of retailers’ rounding practices for cash transactions due to penny shortages, sales tax amounts due to the Department must still be calculated and remitted based on the original, unrounded sales price. [S.C. Dep’t of Revenue, Information Letter No. 26-6, 01/27/26]

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