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States seek solutions to nationwide penny shortage
Now that the U.S. Mint has stopped making pennies, states are setting new rules for cash purchases.
Some states are considering legislation to allow, or require, businesses to round purchase totals to the nearest nickel. Indiana already requires rounding for cash sales that do not end in zero or 5 cents. Experts call the common method “symmetrical rounding.” A federal bill that would apply the symmetrical rounding standard across the country is stalled in Congress.
Brought to you by www.srnnews.com
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By Now that the U.S. Mint has stopped making pennies, states are setting new rules for cash purchases.
Some states are considering legislation to allow, or require, businesses to round purchase totals to the nearest nickel. Indiana already requires rounding for cash sales that do not end in zero or 5 cents. Experts call the common method “symmetrical rounding.” A federal bill that would apply the symmetrical rounding standard across the country is stalled in Congress.
Brought to you by www.srnnews.com