2006 Kentucky Revised Statutes - .155   Department\'s authority to require certain persons to remit moneys by electronic fund transfers -- Administrative regulations -- Waiver of requirement -- Refund by electronic fund transfer.

131.155 Department's authority to require certain persons to remit moneys by electronic fund transfers -- Administrative regulations -- Waiver of requirement -- Refund by electronic fund transfer. (1) As used in this section, the term "electronic fund transfer" means an electronic data processing medium that takes the place of a paper check for debiting or crediting an account and of which a permanent record is made. (2) Notwithstanding any statutory provisions to the contrary, the department may require any person who is required to collect or remit taxes and fees administered by the department or any person who acts on the taxpayer's behalf to remit those taxes and fees to the department by electronic fund transfer. The transfer shall be made on or before the date the tax is due using the debit method or other means as prescribed by the department by the promulgation of an administrative regulation. The department may permit the filing of the tax return following the date of the tax payment. Payment by electronic fund transfer may be required if: (a)  The average payment per reporting period is ten thousand dollars ($10,000) or more for each tax or fee required to be collected or remitted; (b)  The payment for each tax or fee required to be collected or remitted is made on behalf of one hundred (100) or more taxpayers; or (c)  The aggregate of the funds to be remitted on behalf of others is ten thousand dollars ($10,000) or more for each tax or fee required to be collected or remitted. (3) The department shall promulgate administrative regulations establishing electronic fund transfer requirements for the payment of taxes and fees administered by the department. (4) The department may waive the requirement that a qualifying taxpayer remit the payment by electronic fund transfer if the taxpayer is unable to remit funds electronically. (5) Taxpayers and any other persons who are required to collect or remit taxes administered by the department by electronic fund transfer shall be entitled to receive refunds for any overpayment of taxes or fees, on or after July 1, 2001, by electronic fund transfer. Effective: June 20, 2005 History: Amended 2005 Ky. Acts ch. 85, sec. 117, effective June 20, 2005. -- Amended 2000 Ky. Acts ch. 184, sec. 1, effective August 1, 2000. -- Amended 1998 Ky. Acts ch. 314, sec. 1, effective July 15, 1998. -- Created 1994 Ky. Acts ch. 4, sec. 1, effective July 15, 1994. Page 1 of 1