KELO-TV reports that store owners face a “learning curve” in implementing the half-penny increase in the state sales tax coming June 1:
“I don’t know how that’s going to work out, the whole half-cent thing,” Unglued manager Ashley Rieck said.
That’s why Unglued gift shop manager Ashley Rieck will meet with her accountant in North Dakota later this month to sort through South Dakota’s half-cent sales tax hike.
“I think the biggest thing is how do we absorb, or how do we fill in the half-a-cent versus a full cent. But I don’t have an accounting degree, so I’m going to let him figure it out,” Rieck said.
Businesses will also have to make adjustments to their monthly online tax payments to the Department of Revenue.
“I’m sure there will be a little bit of a learning curve as far as paying our sales tax each month. We’ll have to see how that form works out, but I’m sure they’ll have that all worked out by that time,” Great Outdoor Store owner DeAnn Echols said [Perry Groten, “Businesses Face Sales Tax Hike Learning Curve,” KELO-TV, 2016.03.03].
Learning curve? Um, multiply sales by 1.065, then round up, just like you do now when you multiply $5.55 by 1.06 and get $5.883. That doesn’t take an accounting degree; that takes elementary school math.