#A Penny From Your Thoughts ##©Roy Pfund (CC BY-NC-SA 4.0) 2022 https://creativecommons.org/licenses/by-nc-sa/4.0/
Nobody likes them, and as a US Taxpayer you are paying twice for every penny you touch since it cost 1.7 cents to manufacture(in 2016).
You or anyone you work with never has to touch a penny again, here are your equations:
SmartDenom = (MinDenom * (1 / (1 + TAX_RATE)))
FinalPrice = (1 + TAX_RATE) * (ceil(MinPrice / SmartDenom) * SmartDenom)
ActualPriceCharged = FinalPrice/(1 + TAX_RATE)
Taxes = TAX_RATE*(FinalPrice/(1 + TAX_RATE))
These work in all situations were flat tax rates are charged.
#e.g. exempli gratia
In order to touch nothing smaller than a nickel = 0.05 in Texas with a tax rate of 8.25% or .0825
The FinalPrice you show your customers AFTER taxes is EXACTLY $1.55 = 1.0825 * (ceil(1.40/0.04619) * 0.04619), on an item that you charge a minimum of $1.40 for. Where 0.04619 = SmartDenom
And when you are asked about why taxes aren't being payed on your items, you show them that the ActualPriceCharged is 1.43187=(1.55/1.0825) for the item. And you have the remaining Taxes $0.11813=.0825⋅(1.55/1.0825) ready to give to the state.