Kansas § 79-3676 Same; computation of tax by sellers

Kansas Statutes

§ 79-3676 — Same; computation of tax by sellers

Kansas·Ch. 79 TAXATION·Art. 36 KANSAS RETAILERS' SALES TAX

(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.

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(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.

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