California Revenue and Taxation Code

§ 43170

RTC § 43170 Effective Jul 2, 2024Div. 2 · Part 22 · Ch. 3 · Art. 1.1

Statute text

(a)Any person whose estimated tax liability under this part averages twenty thousand dollars ($20,000) or more per month, as determined by the California Department of Tax and Fee Administration pursuant to methods of calculation prescribed by the California Department of Tax and Fee Administration, shall remit amounts due by an electronic funds transfer under procedures prescribed by the California Department of Tax and Fee Administration.

(b)Any person whose estimated tax liability under this part averages less than twenty thousand dollars ($20,000) per month may elect to remit amounts due by electronic funds transfer with the approval of the California Department of Tax and Fee Administration.

(c)Any person remitting amounts due pursuant to subdivision (a) or (b) shall perform electronic funds transfer in compliance with the due dates set forth in Article 1 (commencing with Section 43151). Payment is deemed complete on the date the electronic funds transfer is initiated if settlement to the state’s demand account occurs on or before the banking day following the date the transfer is initiated. If settlement to the state’s demand account does not occur on or before the banking day following the date the transfer is initiated, payment is deemed to occur on the date settlement occurs.

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Legislative history

Amended by Stats. 2024, Ch. 72, Sec. 56. (SB 156) Effective July 2, 2024.