New York Codes, Rules and Regulations
Title 20 - DEPARTMENT OF TAXATION AND FINANCE
Chapter IX - Procedural Regulations
Part 2397 - Electronic Funds Transfer Program For Certain Taxpayers Remitting Taxes Under And Pursuant To The Authority Of Articles 12-a, 13-a, 28 And 29 Of The Tax Law
Section 2397.1 - Definitions
Current through Register Vol. 46, No. 12, March 20, 2024
The definitions provided by section 9(a) of the Tax Law for electronic funds transfer (hereinafter referred to as EFT) and by section 10(a) of the Tax Law for commissioner, payment of tax, and taxpayer apply to this Part. The definitions provided by section 2396.2 of the Title for automated clearing house, ACH credit, ACH debit, department, electronic payment reporting system, Federal reserve wire transfer and program also apply to this Part. In addition, the following terms are defined for purposes of this Part:
(a) The term program year means the period from September 1st of any given year through August 31st of the following year.
(b) The term look-back period means the June 1st through May 31st period which immediately precedes the previous June 1st through May 31st period and which is used to determine required participation in the program for a given program year. For example, the look-back period of June 1, 2004, through May 31, 2005, is used to determine required participation in the program for the September 1, 2006, through August 31, 2007, program year.
(c) The term business day shall mean a day other than Saturday, Sunday or the following holidays: New Year's Day, Martin Luther King Jr. Day, President's Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving Day and Christmas Day, except that such term shall only include the hours up to 3:00 p.m. (Eastern time) on the last business day before the applicable due date.
(d) The term applicable due date means three business days after the 22nd day of each calendar month.
