Gov. Ron DeSantis signed legislation Monday establishing statewide rules for rounding certain cash purchases in Florida after the discontinuation of the penny.
The measure, sponsored by Sen. Don Gaetz, creates a standard process for rounding in-person cash transactions to the nearest nickel. Under the law, cash totals ending in one or two cents are rounded down, while totals ending in three or four cents are rounded up and totals ending in six or seven cents are rounded down. Price points that end in eight or nine cents are rounded up.
The change follows the U.S. Treasury Department’s decision to end the manufacture of new one-cent coins. The U.S. Mint has said the decision was driven in part by production costs, with each penny costing more to make than its face value.
Florida’s law applies only when a customer pays with cash.
Under the law, cash totals ending in one or two cents are rounded down, while totals ending in three or four cents are rounded up. Totals ending in six or seven cents are rounded down, and totals ending in eight or nine cents are rounded up. Totals already ending in zero or five cents remain unchanged.
The written statute specifies that rounding does not change the actual price of an item, the sales tax, or any surcharge or fee tied to the transaction and only affects the final amount paid in cash.