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A Penny Saved: Washington Lawmakers Approve New Rules as Use of 1-Cent Coin Declines
House Bill 2334 sets clear rounding rules for cash transactions, affecting up to 400,000 retail taxpayers and excluding card payments, effective mid-June.
- On Monday, Washington Gov. Bob Ferguson signed House Bill 2334, allowing retailers to round cash purchases to the nearest nickel.
- The federal government stopped making pennies last year, forcing retailers to manage with roughly 114 billion coins currently in circulation.
- Transactions ending in 1, 2, 6, or 7 cents round down, while 3, 4, 8, and 9 cents round up; taxes remain calculated on pre-rounding prices.
- The law provides legal protection against Consumer Protection Act violations for retailers, affecting up to 400,000 taxpayers who sought clear guidelines for tax reporting.
- Washington joins Arizona, Florida, Tennessee, Virginia, and New York in adopting similar rounding policies, though credit and debit card payments remain unaffected.
26 Articles
26 Articles
Rounding out debate, Gov. Ferguson signs bill addressing retailers’ penny problem
House Bill 2334, signed by Washington Gov. Bob Ferguson on Monday, allows — but does not require — retailers to round cash purchases up or down to the nearest 5 cents when they make change.
Issaquah Reporter
Gov. signs bill addressing WA retailers’ penny problem
A new Washington state law offers a way to make change in an era without pennies.
Washington establishes new cash rounding rules to address penny shortage
OLYMPIA – Gov. Bob Ferguson signed House Bill 2334 into law Monday, establishing Washington’s first formal guidelines for cash transactions amid a dwindling supply of pennies. The legislation addresses a lack of federal guidance following the discontinued production of the 1-cent coin. Under the new rules, Washington businesses must apply asymmetrical rounding to the nearest 5-cent increment for cash payments. Transactions ending in 1 or 2 cents…
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