- in United States
- with readers working within the Property industries
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The Florida Legislature is moving forward with two pieces of legislation designed to clarify retail operations in a future society devoid of physical pennies. Following a directive from President Trump, the final minting of the 1-cent coin by the U.S. Mint occurred in June 2025. The final inventory of newly produced pennies was shipped to Federal Reserve regional distribution vaults last August. And, by late 2025, most Federal Reserve regional distribution vaults suspended penny ordering and/or deposits.
In December 2025, the US Treasury published FAQs for businesses and the public. However, the federal guidance recognizes that each state will ultimately need to clarify their sales tax laws to allow rounding to occur to a nickel, instead of a penny. The Florida bills, House Bill 951 by Representative McFarland and Senate Bill 1074 by Senator Gaetz, provide such clarity.
- The bills explain the method of rounding to the nearest nickel.
- The bills provide flexibility for retailers to use this method for rounding now that the 1-cent piece is no longer in production.
- The bills clarify that nickel-rounding only applies to cash transactions (currency and coin).
- The bills expressly provide that the Florida sales tax due is not impacted by nickel rounding.
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- As explained in a Department of Revenue Taxpayer Information Publication.
- The bills protect retailers from civil claims of unfair or deceptive trade practices as a result of nickel rounding.
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