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.
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