N.J. Admin. Code § 18:2-3.4

Current through Register Vol. 56, No. 24, December 18, 2024

Section 18:2-3.4 - Payments required to be paid by electronic fund transfer

(a) A taxpayer that had a prior year liability for any type of tax, with certain exceptions in (c) below, in the amount of $ 10,000 or more shall remit all State tax payments of all types, with certain exceptions in (c) below, by using EFT. The taxpayer may choose the ACH debit or ACH credit method of EFT or such other EFT method of payment, such as credit card or electronic check, as may be authorized by the Director.

(b) The EFT requirements of (a) above applies to any estimated tax payments due from a taxpayer.

(c) The EFT requirements of (a) above does not apply to payments of the following types of taxes:

1. Transfer inheritance tax imposed pursuant to N.J.S.A. 54:33-1;

2. Estate tax imposed pursuant to N.J.S.A. 54:38-1;

3. Gross income tax payments of estimated or final tax liability imposed pursuant to N.J.S.A. 54A:8-5 and N.J.S.A. 54A:8-1, but not including withholding tax imposed pursuant to N.J.S.A. 54A:7-1 and 54A:7-1.1.

(d) Any taxpayer that sells, stores, delivers, transports, or generates natural gas or electricity shall remit the taxes and assessments listed in this subsection by using EFT, without regard to the lack of or amount of any prior year liability or estimated current year liability.

1. Any sales and use tax liability;

2. Any corporate business tax liability;

3. Any transitional energy facility assessment; and

4. Any uniform transitional utility assessment.

N.J. Admin. Code § 18:2-3.4

Amended by 47 N.J.R. 3150(a), effective 12/21/2015