Bill Text: MS SB2680 | 2026 | Regular Session | Introduced

Mississippi Senate Bill 2680

Introduced

Bill Title: Cash purchases; require merchants to round to the nearest five-cent denomination for.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2026-02-03 - Died In Committee [SB2680 Detail]

Download: Mississippi-2026-SB2680-Introduced.html

MISSISSIPPI LEGISLATURE

2026 Regular Session

To: Business and Financial Institutions

By: Senator(s) DuPree

Senate Bill 2680

AN ACT TO REQUIRE MERCHANTS ENGAGED IN THE BUSINESS OF SELLING GOODS AND/OR SERVICES IN THIS STATE TO CALCULATE THE PRICE OF GOODS AND/OR SERVICES SOLD, LESS DISCOUNTS OR DEDUCTIONS, AND SUBJECT TO ANY APPLICABLE TAXES, TO INDIVIDUALS PAYING WITH CASH BY ROUNDING SUCH TOTAL TO THE NEAREST FIVE-CENT DENOMINATION; TO PROVIDE EXCEPTIONS FOR TRANSACTIONS FOR WHICH THE TOTAL AMOUNT IS FEWER THAN 4� OR FOR TRANSACTIONS FOR WHICH PAYMENT IS MADE BY ANY DEMAND OR NEGOTIABLE INSTRUMENT, ELECTRONIC FUND TRANSFER, MONEY ORDER, CREDIT CARD, DEBIT CARD, ELECTRONIC PAYMENT OR OTHER LIKE INSTRUMENT; TO ENSURE THAT ANY TAXES IMPOSED ON THE PURCHASE SHALL NOT BE AFFECTED BY GAINS OR LOSSES RESULTING FROM ROUNDING TO THE NEAREST FIVE-CENT DENOMINATION; TO REQUIRE THE EXECUTIVE DIRECTOR OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION TO PROMULGATE REGULATIONS TO IMPLEMENT THIS ACT; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. (1) For purposes of this section, the following terms shall have the meanings ascribed herein:

(a) "Merchant" means any person, corporation or partnership engaged in the business of the sale of goods and/or services engaging in face-to-face, in-person sales.

(b) "Legal tender" means all United States coins and currencies.

(2) Notwithstanding any other provision of law to the contrary, any merchant doing business in this state shall determine the total price of goods and/or services sold in the following manner:

(a) Prices of goods and/or services shall be totaled and any discount or deduction shall be applied to that amount, after which sales tax or other tax, if any, shall be imposed in accordance with the law of the municipality in which the goods and/or services are sold; and

(b) (i) If the resulting sum ends in One Cent (1�), Two Cents (2�), Six Cents (6�) or Seven Cents (7�), the sum shall be rounded down to the nearest amount divisible by five (5) for those individuals seeking to pay with legal tender; or

(ii) If the resulting sum ends in Three Cents (3�), Four Cents (4�), Eight Cents (8�) or Nine Cents (9�), the sum shall be rounded up to the nearest amount divisible by five (5) for those individuals seeking to pay with legal tender.

(3) Subsection (2) of this section shall not apply to the following:

(a) Transactions for which the total amount is fewer than Four Cents (4�); or

(b) Transactions for which payment is made by any demand or negotiable instrument, electronic fund transfer, money order, credit card, debit card, electronic payment or other like instrument.

(4) Any tax imposed by state or municipal taxing authorities shall not be affected by gains or losses resulting from rounding as described in subsection (2) of this section.

(5) The executive director of the Department of Finance and Administration shall promulgate regulations to implement this section.

SECTION 2. This act shall take effect and be in force from and after July 1, 2026.