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Don't we need a law that permits rounding of prices though? If stores round down, they can potentially collect too little sales tax. If they round up, they're
by Aloisius 2y ago
Don't we need a law that permits rounding of prices though?
If stores round down, they can potentially collect too little sales tax. If they round up, they're charging above the advertised price which, afaik, is fraud.
- JumpCrisscross 2y ago> If stores round down, they can potentially collect too little sales tax. If they round up, they're charging above the advertised price The first case is a non issue. The store is making less money. The second can be settled through the courts.
- Aloisius 2y agoThe former is an issue, at least in California. https://www.cdtfa.ca.gov/lawguides/annotations/460-0198.pdf https://www.cdtfa.ca.gov/lawguides/annotations/460-0198.pdf It can be done, but it appears a retailer has to either indicate that they are undercollecting sales tax to the customer - and make up the difference themselves - or use all-inclusive pricing rather than adding sales tax to the bill, and back out the tax from totals to calculate gross sales.
- toast0 2y agoSales tax is a state issue, so president doesn't have to care. Fraud charges could be avoided with careful asterisking, and lack of enforcement of de minimus fraud.