The tax computation under Section 777.03 and Section 777.04 shall be carried to the third decimal place and the tax rounded up to the next whole cent whenever the third decimal place is greater that four (4) and rounded down to the lower whole cent whenever the third decimal place is four (4) or less. The seller may elect to compute the tax due on a transaction on a per item basis or on an invoice basis provided the method used is consistently used during the reporting period, but the method used shall be the same as that used for the purposes of computing the state consumer sales or use tax.
(Passed 12-2-21.)