Comptroller Guidance on End of the Penny

Please see the above final memo issued by Acting Comptroller Hancock regarding the procedures retailers can take when rounding the cost of sales and how to remit taxes to the Comptroller. The memo specifically discusses how the Agency will handle cash payments it receives and the calculation of sales tax on cash transactions. The Agency will begin the practices described in the memo immediately.

If you have any questions, please contact 

Jessica Escobar, VP & Counsel of Regulatory Compliance, at jescobar@tffa.com.