Indiana § 23-15-13-4 - Rounding
Full text of Indiana Indiana Code § 23-15-13-4 — Rounding, with citation guidance and answers to common questions.
§ 23-15-13-4. Rounding
Sec. 4. (a) For a total transaction amount payable to a business entity, except as provided in subsection (b), the business entity may round the total transaction amount for all transactions with a number other than zero (0) or five (5) in the second decimal place by either:
(1) rounding the total transaction amount downward to the next amount divisible by five cents ($0.05);
(2) rounding the total transaction amount upward to the next amount divisible by five cents ($0.05); or
(3) rounding to the nearest five cent ($0.05) increment by:
(A) for a total transaction amount with one (1), two (2), six (6), or seven (7) in the second decimal place, rounding the total transaction amount downward to the next amount divisible by five cents ($0.05); or
(B) for a total transaction amount with three (3), four (4), eight (8), or nine (9) in the second decimal place, rounding the total transaction amount upward to the next amount divisible by five cents ($0.05).
(b) For a total transaction amount that is less than five cents ($0.05), the business entity may round the amount downward or upward to either zero cents ($0.00) or five cents ($0.05).
As added by P.L.128-2026, SEC.106. Amended by P.L.162-2026, SEC.18.
IC 23-16ARTICLE 16. LIMITED PARTNERSHIPS
Ch. 1.Definitions Ch. 2.General Provisions Ch. 3.Formation and Certificate of Limited Partnership Ch. 4.Limited Partners Ch. 5.General Partners Ch. 6.Finance Ch. 7.Distributions and Withdrawals Ch. 8.Assignment of Partnership Interests Ch. 9.Dissolution Ch. 10.Repealed Ch. 10.1.Repealed Ch. 11.Derivative Actions Ch. 12.Miscellaneous
IC 23-16-1Chapter 1. Definitions
23-16-1-1Applicability of definitions 23-16-1-2Certificate of limited partnership 23-16-1-3Contribution 23-16-1-4Effective date 23-16-1-5Event of withdrawal of a general partner 23-16-1-6Foreign limited partnership 23-16-1-7General partner 23-16-1-8Limited partner 23-16-1-9Limited partnership; domestic limited partnership 23-16-1-10Partner 23-16-1-11Partnership agreement 23-16-1-12Partnership interest 23-16-1-13Person 23-16-1-14State
Frequently Asked Questions About Indiana § 23-15-13-4
What does Indiana Code § 23-15-13-4 cover?
Section 23-15-13-4 ("Rounding") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 23-15-13-4?
A common citation format is "Indiana Code § 23-15-13-4" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 23-15-13-4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.