Name: Utah warns retailers to have a plan once pennies go away
Uploaded: 2025-11-15T03:54:13.801Z
Duration: 2 min 10 s
Description: Utah warns retailers to have a plan once pennies go away, as the Treasury minted its last ever pennies.

Utah warns retailers to have a plan once pennies go away, as the Treasury minted its last ever pennies.

Salt Lake City

Utah's Division of Consumer Protection has issued guidance to retailers, requiring them to clearly display their policies for rounding cash transactions as pennies are phased out of circulation. The move is intended to ensure customers are not shortchanged and that businesses comply with state deceptive practices laws.

Retailers are advised to post notices explaining their rounding methods, which only apply to cash purchases, and to apply rounding only after sales tax has been calculated. The Utah Retail Merchants Association supports the guidance and notes that many businesses are still determining their policies.

Utah warns retailers to have a plan once pennies go away

The state is warning businesses that do a lot of cash transactions to clearly inform customers what they're going to do with exact change This is about transparency of the consumer with pennies no longer being minted The state is trying to ensure customers don't get shortchanged when they pay with cash We're talking about only cash purchases If you go in and somebody pays in cash and you don't have the exact change to give them We are recommending that you clearly and conspicuously inform the consumer consumer ahead of the purchase about how you intend to round The Utah Division of Consumer Protection wants this notice posted so shoppers can clearly see the policy This is the guidance being given to retailers for cash transactions Let's say you have a $10 purchase and with the tax it comes out to ten dollars and two cents round down But if it's 1003 round up to the nearest nickel But whatever rounding method the business uses is fine. They just have to be clear about that upfront This does not apply to any credit card transactions We have been talking to our members and we have been telling them to do two things number one to be Transparent with your consumers exactly how you're gonna round these Transactions and number two be fair Dave Davis heads the Utah Retail Merchants Association Which represents a lot of businesses in the state He says this will become a bigger problem as pennies start disappearing from the market Utah's believed to be the first state to give guidance to retailers on what to do. We salute them for doing it I think it's a great template for retailers that are trying to figure out. What are we gonna do many retailers? I called weren't ready to answer what they're going to do The Utah Division of Consumer Protection also says transparency saves retailers from potentially violating the state's deceptive Practices laws this is so that you are transparent with consumers from the outset Everybody understands the expectations people have choice to use cash or another form of payment The state has another reminder for businesses taxes come first Rounding can only come after the sales tax has been applied to the sale in Murray Ben Winslow Fox 13 News, Utah

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