Md. Code Regs. 18.11.01.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 18.11.01.02 - Requirements for Payment by Immediately Available Funds

A. A taxpayer whose unpaid tax liability is $10,000 or more shall remit payment by immediately available funds pursuant to the following:

(1) Except as provided in §A(2) of this regulation, tax payment shall be made by using ACH credit; or

(2) Tax payment by wire transfer may be used if the taxpayer:

(a) Initiates an ACH credit or authorizes an ACH debit transaction which fails,

(b) Receives prior approval from the Department, and

(c) Assumes all costs associated with the wire transfer transaction.

B. Additional instructions which may be provided by the Department shall be followed by the taxpayer.

C. A separate ACH credit or wire transfer allowed under §A of this regulation shall be made for each type of tax and for each period for which the tax is due.

D. A taxpayer may satisfy the obligation to remit payment in immediately available funds by physical delivery of U.S. currency, with the appropriate return, on or before 1 p.m. on the due date of the obligation, to the Department of Assessments and Taxation, 301 West Preston Street, Room 806, Baltimore, Maryland 21201.

Md. Code Regs. 18.11.01.02

Regulations .02 adopted as an emergency provision effective March 11, 1993 (20:7 Md. R. 637); adopted permanently effective July 19, 1993 (20:14 Md. R. 1170)
Regulation .02A amended effective January 30, 1995 (22:2 Md. R. 78); September 21, 1998 (25:19 Md. R. 1497); December 11, 2003 (30:24 Md. R. 1745); amended effective 49:25 Md. R.1041-1070, eff. 12/12/2022