139.230 Elimination of fractions of a cent.
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<![CDATA[139.230 Elimination of fractions of a cent. To eliminate fractions of one cent ($0.01), and to ensure that the aggregate collections of <br>taxes by a retailer, so far as may be practicable, shall be equal to six percent (6%) of gross <br>receipts or sales price, as the case may be, the tax shall be computed by applying the six <br>percent (6%) rate to the sales price carried to the third decimal place and rounded to the <br>nearest cent by eliminating any fraction less than one-half of one cent ($0.005) and <br>increasing any fraction of one-half of one cent ($0.005) or over to the next higher cent. Effective: July 1, 2004 <br>History: Amended 2003 Ky. Acts ch. 124, sec. 11, effective July 1, 2004. -- Amended 1990 Ky. Acts ch. 476, Pt. VII A, sec. 618, effective July 1, 1990. -- Amended 1968 <br>Ky. Acts ch. 40, Part 1, sec. 5. -- Created 1960 Ky. Acts ch. 5, Art. I, sec. 23. ]]>