NY S08580

Requires merchants in New York to round cash transaction totals to the nearest five cents, with amounts ending in 0-2 cents or 6-7 cents rounded down, and amounts ending in 3-4 cents or 8-9 cents rounded up

Applies only to face-to-face, in-person cash transactions using legal tender (coins and currency)

Exempts transactions totaling four cents or less and all non-cash payments including credit cards, debit cards, checks, electronic transfers, and money orders

Prohibits state or municipal taxes from being applied to any gains or losses resulting from the rounding process

Takes effect 180 days after becoming law, with the Department of Financial Services authorized to promulgate regulations and grant exemptions