Fractional parts of a cent.

  1. Law
  2. CFR 27
  3. Alcohol, Tobacco Products and Firearms
  4. Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury
  5. Procedures and Practices
  6. Procedure and Administration
  7. Collection of Excise and Special (Occupational) Tax
  8. Receipt of Payment
  9. Fractional parts of a cent.

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§ 70.62 Fractional parts of a cent.

In the payment of any tax, a fractional part of a cent shall be disregarded unless it amounts to one-half cent or more, in which case it shall be increased to one cent. Fractional parts of a cent shall not be disregarded in the computation of taxes.

(26 U.S.C. 6313)

[T.D. ATF-251, 52 FR 19314, May 22, 1987. Redesignated by T.D. ATF-301, 55 FR 47606, Nov. 14, 1990]


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