Rhode Island § 44-18.1-25 § 44-18.1-25. Rounding rule.

Rhode Island Statutes

§ 44-18.1-25 — § 44-18.1-25. Rounding rule.

Rhode Island § 44-18.1-25

Title 44Taxation

Ch. 44-18.1Adoption of the Streamlined Sales and Use Tax Agreement

This text of Rhode Island § 44-18.1-25 (§ 44-18.1-25. Rounding rule.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 44-18.1-25 (2026).

Text

§ 44-18.1-25. Rounding rule.
(A) After December 31, 2005, each member state shall adopt a rounding algorithm that meets
            the following criteria:
         
(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) Each state shall allow sellers to elect to compute the tax due on a transaction on
            an item or an invoice basis, and shall allow the rounding rule to be applied to the
           

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§ 44-18.1-25. Rounding rule.

(A) After December 31, 2005, each member state shall adopt a rounding algorithm that meets the following criteria:

(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) Each state shall allow sellers to elect to compute the tax due on a transaction on an item or an invoice basis, and shall allow the rounding rule to be applied to the aggregated state and local taxes. No member state shall require a seller to collect tax based on a bracket system.