Ind. Code § 23-15-13-1 Applicability to cash transactions
Sec. 1. This chapter applies only to a cash transaction.
As added by P.L.128-2026, SEC.106.
Ind. Code ch. 23-15-13
Ind. Code ch. 23-15-13
in effectInd. Code § 23-15-13-2 "Business entity"
Sec. 2. As used in this chapter, "business entity" means any:
(1) bank;
(2) hospital;
(3) health care provider;
(4) sole proprietorship;
(5) corporation;
(6) limited liability company;
(7) association;
(8) partnership;
(9) joint stock company;
(10) joint venture;
(11) mutual fund;
(12) trust;
(13) estate;
(14) joint tenancy;
(15) other form of business organization; or
(16) state or local unit, for transactions that include a state or local unit selling or otherwise providing property or services for consideration.
As added by P.L.128-2026, SEC.106.
Ind. Code § 23-15-13-3 "Total transaction amount"
Sec. 3. For purposes of this chapter, "total transaction amount" means the amount of the transaction prior to any tax imposed in addition to any tax imposed on the transaction and paid to the business entity, regardless of whether the tax is required to be separately stated or whether the business entity is an agent or trustee of a governmental entity. A tax under this section includes state or local taxes as defined in IC 5-36.5-1-4 and any amounts imposed by any other governmental entity other than a state or local unit.
As added by P.L.128-2026, SEC.106.
Ind. Code § 23-15-13-4 Rounding
Sec. 4. (a) For a total transaction amount payable to a business entity, except as provided in subsection (b), the business entity may round the total transaction amount for all transactions with a number other than zero (0) or five (5) in the second decimal place by either:
(1) rounding the total transaction amount downward to the next amount divisible by five cents ($0.05);
(2) rounding the total transaction amount upward to the next amount divisible by five cents ($0.05); or
(3) rounding to the nearest five cent ($0.05) increment by:
(A) for a total transaction amount with one (1), two (2), six (6), or seven (7) in the second decimal place, rounding the total transaction amount downward to the next amount divisible by five cents ($0.05); or
(B) for a total transaction amount with three (3), four (4), eight (8), or nine (9) in the second decimal place, rounding the total transaction amount upward to the next amount divisible by five cents ($0.05).
(b) For a total transaction amount that is less than five cents ($0.05), the business entity may round the amount downward or upward to either zero cents ($0.00) or five cents ($0.05).
As added by P.L.128-2026, SEC.106. Amended by P.L.162-2026, SEC.18.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026