Goodbye, take-a-penny-leave-a-penny dish. Shopping in Florida may soon cost you slightly less — or slightly more — as retailers decide which way to round prices to avoid dealing with pennies under a new Florida law.
On May 11, Gov. Ron DeSantis signed SB 1074, which allows retailers to choose whether to round prices up or down to the nearest nickel in cash transactions, effective immediately. They may also choose to keep going on as before.
The bill does not change sale prices, how much tax is collected, or any other fees or charges added to the sale. It simply allows retailers to choose to avoid pennies by rounding down to the nearest nickel in favor of the customer or up in favor of themselves. It also defines how rounding works.
“With this framework, Florida is a model for how states can navigate currency changes, ensuring businesses can prosper and consumers are protected,” Florida Retail Federation President and CEO Scott Shalley said in a statement after the signing, The News Service of Florida reported.
How will Florida retailers round off pennies?
If retailers choose to round off pennies, Florida law now tells them how:
Will all transactions get rounded off in Florida?
Only cash transactions, and only if retailers choose to. The bill allows it, but does not require it.
If you pay with cards, money orders, buy online, or use any other sort of noncash payment, you’ll still have to pay the pennies.
Does rounding pennies affect sales tax in Florida?
No. “Rounding to the nickel does not alter the sales price, the amount of tax collected under this chapter, or anysurcharges, assessments, or fees imposed on the sale,” the bill says.
Wait, what happened to the penny?
In February 2025, President Donald Trump told the U.S. Treasury Department to stop producing pennies because they now cost more to manufacture (more than 3 cents!) than the one cent they were worth.
The last penny blank was pressed on Wednesday, Nov. 12, in Philadelphia.
When does SB 1074 go into effect?
The law is effective as of May 11 and retailers may make changes as soon as they wish.
C. A. Bridges is a journalist for the USA TODAY Network-Florida’s service journalism Connect team. You can get all of Florida’s best content directly in your inbox each weekday day by signing up for the free newsletter, Florida TODAY.
This article originally appeared on Tallahassee Democrat: Florida ‘Nearest nickel’ law now lets stores round and it may cost you
Reporting by C. A. Bridges, USA TODAY NETWORK – Florida / Tallahassee Democrat
USA TODAY Network via Reuters Connect
