423.50 - REMITTANCE OF FUNDS.
423.50 REMITTANCE OF FUNDS. 1. Only one remittance of tax per return is required except as provided in this subsection. Sellers that collect more than thirty thousand dollars in sales and use taxes for this state during the preceding calendar year shall be required to make additional remittances as required under rules adopted by the director. The filing of a return is not required with an additional remittance. 2. All remittances shall be remitted electronically. 3. Electronic payments may be made either by automated clearinghouse credit or automated clearinghouse debit. Any data accompanying a remittance must be formatted using uniform tax type and payment codes approved by the governing board established pursuant to the agreement. An alternative method for making same-day payments shall be determined under rules adopted by the director. 4. If a due date falls on a legal banking holiday in this state, the taxes are due on the succeeding business day.
Section History: Recent Form 2003 Acts, 1st Ex, ch 2, § 143, 205