OUR THOUGHTS ON:

Pennsylvania's EFT Requirements

State and Local Tax

By Matthew Dodge

Pennsylvania taxpayers are reminded that, effective January 1, 2014, all tax payments greater than $1,000 (other than for personal income tax) must be made electronically.  Payments must be made by an approved electronic fund transfer (EFT) method such as ACH debit, ACH credit or credit card.  Taxpayers can register for EFT payments through the Pennsylvania Department of Revenue’s e-TIDES website.  Taxpayers who do not comply with the EFT mandate face potential penalties of 3% per payment to a maximum of $500.

EFT Payment Requirements

The requirement for EFT on payments of $1,000 or more applies to the following taxes:

  • Sales Tax
  • Use Tax
  • Employer Withholding
  • Corporate Net Income Tax
  • Capital Stock/Franchise Tax
  • Liquid Fuels Tax
  • Fuel Use Tax
  • Mutual Thrift Institutions Tax
  • Oil Company Franchise Tax
  • Malt Beverage Tax
  • Motor Carrier Road Tax
  • Bank Shares Tax
  • Title Insurance and Trust Company Shares Tax
  • Insurance Premiums Tax
  • Public Utility Realty Tax
  • Gross Receipts Tax

If you have any questions or need more information regarding Pennsylvania’s electronic funds transfer regulations, please contact your tax preparer.

© 2014 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

This advice is not intended or written to be used for, and it cannot be used for, the purpose of avoiding any federal tax penalties that may be imposed, or for promoting, marketing or recommending to another person, any tax related matter.

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The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at contactSD@schneiderdowns.com.

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2018 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

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