Indiana Drops Pennies, Rounds Cash Transactions
Indianapolis News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Indiana Eliminates Pennies: New Law Rounds Cash Transactions to Nearest Nickel
Indiana has implemented a new state law, Public Law one twenty-eight, signed by Governor Mike Braun, which eliminates pennies for cash transactions. Businesses will now round prices down to the nearest nickel. This shift comes as a response to President Trumps order to stop producing one-cent coins. The law primarily affects cash-heavy businesses, such as cannabis dispensaries, which have already adapted to rounding to nickels. State officials anticipate a slight decrease in sales tax revenue, up to two million dollars annually, due to the rounding changes. The law also updates other state taxes to align with new federal rules from last summers significant bill.
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