N.J. Admin. Code § 18:24B-1.4

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

Section 18:24B-1.4 - Rules for remittance of tax

(a) Only one remittance is required for each return, except as provided in this subsection. If any additional remittance is required, it will only be required from sellers that collect more than $30,000 in sales and use taxes in New Jersey during the preceding calendar year. The amount of the additional remittance will be determined through a calculation method rather than actual collections and will not require the filing of an additional return.

(b) All remittances from sellers in payment of taxes reported on the approved simplified return are to be remitted electronically.

(c) Electronic payments by all remitters by both automated clearing house (ACH) Credit and ACH Debit are permitted.

(d) An alternative method for making "same day" payments is permitted, if an electronic funds transfer fails.

(e) If a due date for a payment falls on a Saturday, Sunday, or legal holiday in New Jersey, the payment is due on the next succeeding business day.

(f) If the Federal Reserve Bank is closed on a due date that prohibits a payment from being made by ACH Debit or ACH Credit, the payment shall be accepted as timely if made on the next day the Federal Reserve Bank is open.

(g) Any data that accompanies a remittance is to be formatted using uniform tax type and payment type codes approved by the Governing Board.

(h) The Division has adopted a standardized transmission process approved by the Governing Board that allows for the remittance in a single electronic transmission of a single (bulk) payment for taxes reported on multiple SERs by affiliated entities, CSPs, or preparers.

N.J. Admin. Code § 18:24B-1.4

Amended by 49 N.J.R. 338(a), effective 2/21/2017

Amended by 56 N.J.R. 430(b), effective 3/18/2024