|STATE OF CONNECTICUT|
THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775
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 $50,000 in applicable federal tax deposits in 1995. The requirement was to take effect on January 1, 1997, but now will be effective July 1, 1997.
|Threshold Amount||Determination |
| Applicable |
|$ 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.
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