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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) When the seller is computing the amount of tax owed by the purchaser and remitted to the state: (1) Tax computation must be carried to the third decimal place; and
(2) the tax must be rounded to a whole cent using a method that rounds up to the next cent whenever the third decimal place is greater than four.
(b) Sellers may elect to compute the tax due on a transaction on an item or an invoice basis. The rounding rule may be applied to the aggregated state and local taxes.
Cite this article: FindLaw.com - Kansas Statutes Chapter 79. Taxation § 79-3676. Same; computation of tax by sellers - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-79-taxation/ks-st-sect-79-3676/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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