42-1129; Version 2
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42-1129. Payment of tax by electronic funds transfer (L10, 7SS, Ch. 12, sec. 22. Eff. 3/1/11) A. The department may require by rule, consistent with the state treasurer's cash management policies, that any taxpayer that owed twenty thousand dollars or more for the preceding taxable year in connection with any tax administered pursuant to this article, except individual income tax, shall pay the tax liability on or before the payment date prescribed by law in monies that are immediately available to the state on the date of the transfer as provided by subsection B of this section. B. A payment in immediately available monies shall be made by electronic funds transfer, with the state treasurer's approval, that ensures the availability of the monies to this state on the date of payment. C. The taxpayer shall furnish evidence as prescribed by the department that the payment was remitted on or before the due date. D. A taxpayer who is required to make payment by electronic funds transfer but who fails to do so is subject to the civil penalties prescribed by section 42-1125, subsection O. E. A failure to make a timely payment in immediately available monies as prescribed pursuant to this section is subject to the civil penalties prescribed by section 42-1125, subsection D. |