Tax computation must be carried to the third decimal place, and 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.

(Ga. L. 1951, p. 360, § 22; Code 1933, § 91A-4531, enacted by Ga. L. 1978, p. 309, § 2; Ga. L. 1981, p. 1857, § 40; Ga. L. 2010, p. 662, § 8/HB 1221.)

JUDICIAL DECISIONS

Bracket system valid when no more than 3 percent tax on fractional part of dollar.

- Bracket system which does not require the payment and collection of more than the necessary amount of coinage required to pay and collect the 3 percent levied on sales of a fractional part of a dollar is not contrary to the legislative grant of authority to the commissioner. Hawes v. Phillips, 122 Ga. App. 714, 178 S.E.2d 759 (1970).

Bracket system illegal if overpayment results.

- Bracket system which requires the payment or collection of more tax than that contemplated by the General Assembly, that is, to collect a whole cent of tax where a fractional part of a cent of tax (by mathematical calculation) is involved, would exceed the authority granted. Hawes v. Phillips, 122 Ga. App. 714, 178 S.E.2d 759 (1970).

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2018 Georgia Code 48-8-31 | Car Wreck Lawyer

TITLE 48 REVENUE AND TAXATION

Section 8. Sales and Use Taxes, 48-8-1 through 48-8-278.

ARTICLE 1 STATE SALES AND USE TAX

48-8-31. Tax computation to be carried to third decimal place; rounding.

JUDICIAL DECISIONS

Bracket system valid when no more than 3 percent tax on fractional part of dollar.

Bracket system illegal if overpayment results.