West Virginia Code of State Rules › Agency 110 - Tax › Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT › Series 110-10F - Payment of Taxes by Electronic Funds Transfer › Section 110-10F-2 - Definitions

Current through Register Vol. XLI, No. 28, July 12, 2024
For the purposes of this rule, the following terms used in
				  this rule have the meanings set forth in this section, unless a different
				  meaning is clearly indicated by the context in which the term is used.
2.1. "ACH" or "Automated Clearing House"
				means a nationwide electronic funds transfer system which is governed by the
				National Automated Clearing House Association (NACHA) operating rules and which
				provides for the clearing of electronic credit and debit entries between
				participating financial institutions.
2.2. "ACH Credit" means the electronic funds
				transfer payment method by which transactions are initiated and generated by
				the taxpayer and cleared through the ACH system for deposit into the State
				Treasury.
2.3. "ACH Debit" means
				the electronic funds transfer payment method by which transactions are
				initiated by the taxpayer, generated by the Department upon the taxpayer's
				instruction and cleared through the ACH system for deposit into the State
				Treasury.
2.4. "ACH Trace Number"
				means the unique number assigned to an electronic payment transaction by the
				financial institution originating the transaction.
2.5. "Addenda record" means that information
				required by the Department in an ACH Credit transaction or Wire Transfer which
				identifies the taxpayer, the tax type, the period covered, the payment type and
				the payment amount.
2.6. "CCD+" or
				"cash concentration or disbursement plus" means the standardized data format
				approved by the National Automated Clearing House Association for remitting tax
				payments electronically.
2.7.
				"Code" means the Code of West Virginia of one thousand nine hundred thirty-one,
				as amended.
2.8. "Commissioner" or
				"Tax Commissioner" means the West Virginia Tax Commissioner or his or her
				delegate.
2.9. "Department" or "Tax
				Department" means the West Virginia State Tax Department.
2.10. "EFT" or "Electronic Funds Transfer"
				means any transfer of funds using ACH debit, ACH credit, credit or debit card,
				intergovernmental transfer or Wire Transfer and any other means recognized by
				the Tax Commissioner for payment of taxes, (other than a transaction originated
				by check, draft, or similar paper instrument), that is initiated through an
				electronic terminal, personal electronic device, computer, or magnetic tape,
				where the person initiating the transfer orders, instructs, or authorizes a
				financial institution to debit or credit an account using the methods specified
				in this rule.
2.11. "Financial
				institution" means a state or national bank, a trust company, a state or
				federal savings and loan association, a mutual savings bank, or a state or
				federal credit union.
2.12.
				"Immediately available funds" means an ACH credit, an ACH debit, U.S. currency,
				or wire transfer that has completed the EFT process, and is deposited in the
				State's bank for immediate use.
2.13. "Lookback period" means the 12-month
				fiscal year between July 1 and June 30 immediately preceding the calendar year
				for which the determination is made that a taxpayer must pay taxes by
				EFT.
2.14. "NACHA" or "National
				Automated Clearing House Association" means the trade association which sets
				automated payments standards that govern the ACH system for financial
				institutions nationwide.
2.15.
				"Person" includes, but is not limited to, any individual, firm, partnership,
				limited partnership, co-partnership, joint venture, association, corporation,
				municipal corporation, organization, receiver, estate, trust, guardian,
				executor, administrator, and also any officer, employee or member of any of the
				foregoing who, as such officer, employee or member, is under a duty to perform
				or is responsible for the performance of an act prescribed by the provisions of
				W. Va. Code §
									11-10-1
et seq
., and the provisions of any other article of the Code
				which imposes a tax administered by the Tax Commissioner.
2.16. "Prenote" or "prenotification" means a
				zero-dollar or one cent entry that is sent through the ACH system prior to live
				entries. Prenotes provide a verification function that makes sure any bank
				information and TXP addenda data required is correct prior to live
				entries.
2.17. "State" or "this
				State" means the State of West Virginia.
2.18. "Submission day" means the day on which
				a taxpayer communicates payment information to the West Virginia State Tax
				Department.
2.19. "Submission
				period" means the specified time interval in each submission day during which
				EFT payment information received by the Tax Department is processed for
				transactions occurring on the next business day.
2.20. "Tax" or "taxes" means taxes
				administered under the authority of W. Va. Code §
									11-10-1
et seq
., additions to tax and penalties and interest imposed
				with respect to those taxes.
2.21.
				"Taxpayer" means any person required to file a return for, or liable for the
				payment of, any tax administered under W. Va. Code §
									11-10-1
et seq
.
2.22. "Tax
				type" means each separate category of tax subject to EFT payment
				requirements.
2.23. "Treasury" or
				"State Treasury" means the Treasury of the State of West Virginia.
2.24. "TXP Banking Convention" means the
				format to be used in the free form field of the National Automated Clearing
				House Association's CCD+ entry addenda record.
2.25. "Wire Transfer" means the electronic
				transfer system developed and maintained by the Federal Reserve in order to
				enable financial institutions to transfer funds
				nationwide.