Kansas Statutes Annotated
Updated Through the 2013 Legislative Session

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Statute Number:79-3676
Chapter Title:TAXATION
Article Title:KANSAS RETAILERS' SALES TAX
Tax Type:Kansas Retailers' Sales Tax
Brief Description:Same; computation of tax by sellers.
Keywords:


Body:

79-3676. Same; computation of tax by sellers. (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.
History: L. 2003, ch. 147, 22; May 22.


Date Composed: 04/04/2011 Date Modified: 04/04/2011

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