New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 2 - GENERAL POLICIES AND PROCEDURES
Subchapter 3 - REQUIREMENTS FOR PAYMENT OF TAXES BY ELECTRONIC FUNDS TRANSFER
Section 18:2-3.3 - Definitions

The following words and terms, when used in this subchapter, have the following meanings, unless the context clearly indicates otherwise.

"ACH" (automated clearing house) means a Federal reserve bank, or an organization established by agreement with the National Automated Clearing House Association (NACHA), which operates as a clearing house for transmitting or receiving entries between banks and bank accounts, and which authorizes an electronic transfer of funds between the banks or bank accounts.

"ACH credit" means a transaction in which the taxpayer, through its own bank, originates an entry crediting the State of New Jersey's bank account and debiting its own bank account for the amount of the payment due.

"ACH debit" means a transaction in which the State of New Jersey, through its designated depository bank, originates an ACH transaction debiting the taxpayer's bank account and crediting the State's bank account for the amount of the payment due.

"Director" means the Director of the Division of Taxation in the Department of Treasury.

"EFT" (electronic funds transfer) means any transfer of funds, other than a transaction originated by check, draft or similar paper instrument, that is initiated through an electronic terminal, telephonic instrument or computer or magnetic tape for the purpose of ordering, instructing or authorizing a financial institution to debit or credit an account.

"Prior year liability" means the total liability for any tax imposed on, collected by or withheld by the taxpayer in the calendar year or the fiscal or calendar privilege period, as determined under the specific law regarding that tax, ending before the calendar year or fiscal or calendar privilege period for which an electronic funds transfer payment is determined to be required.

"State tax" or "tax" means any tax, or any transitional energy facility or uniform transitional utility assessment, which is payable to or collectible by the Director.

"Taxpayer" means any person or entity owing or liable to pay any tax, or any person or entity deemed to be so owing or liable.