By regulation or instruction, the secretary may permit or require rounding to the nearest whole dollar of tax due provided that, for any tax or tax act the revenues from which are required by the provisions of the Tax Administration Act to be distributed or transferred partly to local governments and partly to state funds, the gain or loss due to rounding shall be attributed to the state funds.
History: 1978 Comp., § 7-1-15.1, enacted by Laws 1987, ch. 169, § 4.
ANNOTATIONSEffective Dates. — Laws 1987, ch. 169, § 8 made Laws 1987, ch. 169, § 4 effective July 1, 1987.