Massachusetts General Laws (Tax)
Mass. Gen. Laws ch. 64I, § 5
Computation of tax
Official textmalegislature.gov
Section 5. For the purposes of adding and collecting the tax imposed by this chapter to be paid to the commonwealth or to be reimbursed to the seller by the purchaser, the tax computation shall be carried to the third decimal place and it shall be rounded to a whole cent, rounding up to the next cent whenever the third decimal place is greater than 4. A seller may elect to compute the tax due on a transaction on an item or an invoice basis.
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In this chapter (27 sections)
- 64I-1 · Definitions
- 64I-2 · Imposition; rate; payment
- 64I-2A · Repealed, 1991, 4, Sec. 13
- 64I-3 · Liability for tax
- 64I-4 · Collection of tax; status of tax; sales of motor vehicles
- 64I-4A · Payment and accounting methods for use tax liability;…
- 64I-5 · Computation of tax
- 64I-6 · Statement and collection of tax
- 64I-7 · Exemptions
- 64I-8 · Presumption of sale for use, storage or consumption; burden of…
- 64I-9 · Registration required
- 64I-10 · Repealed, 1976, 415, Sec. 113
- 64I-11 · Classified permits establishing percentage of exempt sales
- 64I-12-to-16 · Repealed, 1976, 415, Sec. 113
- 64I-17 · Liability for failure to pay tax
- 64I-18-to-23 · Repealed, 1976, 415, Sec. 113
- 64I-24 · Advertisement that vendor will assume or absorb tax
- 64I-25 · Repealed, 1976, 415, Sec. 113
- 64I-26 · Motor vehicles; presumption of transfer for storage, use or…
- 64I-26A · Motorboats; aircraft; certificate issuance; evidence of tax…
- 64I-27 · Trade-in of motor vehicles or trailers; use tax
- 64I-28 · Repealed, 1990, 121, Sec. 66
- 64I-29-to-31 · Repealed, 1976, 415, Sec. 113
- 64I-31A · Bond or deposit; non-resident contractors; definition
- 64I-32 · Repealed, 1976, 415, Sec. 113
- 64I-33 · Service of process; nonresident vendors
- 64I-34 · Claims for reimbursement on worthless accounts