COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775
DEPUTY COMPTROLLER
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| STATE OF CONNECTICUT | ||
| NANCY WYMAN COMPTROLLER |
OFFICE OF
THE STATE COMPTROLLER 55 ELM STREET HARTFORD, CONNECTICUT 06106-1775 |
MARK OJAKIAN DEPUTY COMPTROLLER |
MEMORANDUM NO. 96-49
October 11, 1996
TO THE HEADS OF ALL STATE AGENCIES
| Attention: | Chief Administrative and Fiscal Officers, Business Managers, and Payroll and Personnel Officers |
| Subject: | Update on Federal Tax Deposits by Electronic Funds Transfer |
The purpose of this memorandum is to update information contained in Comptroller Memorandum No. 95-4, dated January 20, 1995, entitled "Federal Tax Deposits by Electronic Funds Transfer."
Public Law 104-188, signed into law on August 20, 1996, has a provision relating to the deposit of federal taxes by electronic funds transfer (EFT).
The provision in Public Law 104-188 delays for six months the deadline for beginning deposits by EFT for taxpayers who made more than $50,000 in applicable federal tax deposits in 1995. The requirement was to take effect on January 1, 1997, but now will be effective July 1, 1997.
| Threshold Amount | Determination Period | Applicable Effective Date |
| $ 50 thousand | 1-1-95 to 12-31-95 | July 1, 1997 |
| $ 50 thousand | 1-1-96 to 12-31-96 | January 1, 1998 |
| $ 20 thousand | 1-1-97 to 12-31-97 | January 1, 1999 |
If you have any questions regarding this matter please contact the Policy Evaluation and Review Division at 702-3440.
NANCY WYMAN
STATE COMPTROLLER
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