20 CRR-NY 2396.2NY-CRR
20 CRR-NY 2396.2
20 CRR-NY 2396.2
2396.2 Definitions.
The definitions providedby section 9(a) of the Tax Law for commissioner, educational organization,electronic funds transfer (hereinafter referred as "EFT"),health care provider, payment of tax and reconciliation of withholdingapply to this Part. In addition, the following terms are defined forthe purposes of this Part:
(a) The term automatedclearing house (hereinafter referred to as ACH) means anyFederal reserve bank, or an organization established by agreementwith the National Automated Clearing House Association, which operatesas a clearing house for transmitting or receiving entries betweenbanks and/or bank accounts and which authorizes an electronic transferof funds between such banks or bank accounts.
(b) The term ACHdebit means a transaction which the taxpayer initiates by accessingthe electronic payment reporting system and which results in the department,through its designated depository bank, originating an entry debitingthe taxpayer's bank account and crediting the department'sbank account for the amount of a payment of tax.
(c) The term ACHcredit means an ACH transaction in which the taxpayer, throughits own bank, originates an entry crediting the department'sbank account and debiting its own bank account for the amount of apayment of tax.
(d) The term businessday means a day other than Saturday, Sunday or the following holidays:New Year's Day, Martin Luther King Jr. Day, Presidents'Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans'Day, Thanksgiving Day and Christmas Day, except that such term shallonly including the hours up to 6:00 p.m. (Eastern time) on the lastbusiness day before the otherwise applicable due date.
(e) The term department means the Department of Taxation and Finance.
(f) The term electronicpayment reporting system means the telephone assistance centerand program website accessed by taxpayers in order to initiate certainEFT transactions.
(g) The term Federalreserve wire transfer (hereinafter referred to as fedwire) means any transaction utilizing the national electronic paymentsystem to transfer funds through Federal Reserve banks. For purposesof the program, it is similar to an ACH credit in that the taxpayeroriginates a transaction utilizing the Federal Reserve banking system,debiting its own bank account and crediting the department'sbank account for the amount of a payment of tax.
(h) The term otherwiseapplicable due date means the due date for remittance of a paymentof tax prescribed by paragraph (1), (2) or (3) of subsection (a) ofsection 674 of the Tax Law, as applicable.
(i) The term program means the Electronic Filing and Funds Transfer Program describedby this Part.
(j) The term taxpayer means any person qualifying as an employer for Federal income taxwithholding purposes and maintaining an office or transacting businesswithin New York State, whether or not a paying agency is maintainedwithin New York State.
(k) The terms withholdingtax or withholding taxes mean the taxes required to bededucted and withheld from wages pursuant to part V of article 22of the Tax Law (New York State personal income tax), or pursuant toan equivalent provision enacted under the authority of Tax Law article30 (New York City personal income tax on residents), 30-A (City ofYonkers income tax surcharge on residents), or 30-B (City of Yonkersearnings tax on nonresidents).
20 CRR-NY 2396.2
Current through September 30, 2022
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.