Taxes Paid By Electronic Funds Transfers

When taxpayers must pay taxes via electronic funds transfer - consistent approach - timing of deadlines - department of revenue. The act authorizes the executive director of the department of revenue (director) to require the remittance of severance taxes electronically and allows the department to promulgate rules governing such electronic payment.

The act authorizes the director to require a taxpayer to remit sales taxes by electronic funds transfers at an earlier hour on the deadline day for making a return and paying the taxes due than taxpayers who remit sales taxes by other means.

(Note: This summary applies to this bill as enacted.)