Pennsylvania – Mandatory EFT Payment Amount Lowered

SALT Report 1950 – The Department of Revenue recently amended regulation §5.3 to reflect that the amount for which payments must be made by electronic funds transfer has been lowered to $10,000. Specifically, the regulation states that:

Beginning January 1, 2013, a payment in the amount of $10,000 or more shall be remitted using a method of EFT selected by the taxpayer. The taxpayer may choose the ACH debit method or the ACH credit method.  This requirement applies to the payment of the following taxes:

Sales and use,

Employer withholding,

Liquid fuels,

Fuel use,

Mutual thrift institutions,

Oil company franchise,

Malt beverage,

Motor carrier road,

Corporate net income,

Capital stock-franchise,

Bank shares,

Public utility realty, and

Gross receipts

The Department also rescinded a regulation that required it to notify taxpayers that they would be required to register on or before September 1 for the mandatory EFT payments based on the taxpayer’s anticipated revenues for the following year.

For Further Information:

Pennsylvania Department of Revenue – 61 Pa Code §5.3