What banking information do I need to make my sales tax payments?

To make your sales tax payment in the US, you’ll need to gather several key pieces of banking information. The exact banking information can vary depending on the state in which you’re making the payment, but generally, you’ll need the following. 

The information below is generally applicable if you have a U.S. bank account. If you are a non-U.S. company with a non-U.S. bank account, please contact the relevant tax authority to further clarify your payment options or reach out to Taxually for assistance.

General Banking Information

1. Bank account number: the number of the bank account from which the payment will be made.

2. Bank routing number: the routing number for your bank, which is used to identify the financial institution. 

3. Account holder name: the name of the person or business on the bank account.

4. Bank name and address: the name and address of your bank.

Payment Method Information

1. Electronic Funds Transfer (EFT) Details: if you’re paying via EFT, you’ll need your bank’s EFT information. 

2. Credit or Debit Card Details: if you’re paying by card, you’ll need the card number, expiration date, CVV, and the billing address. 

State-Specific Information

1. Sales tax ID number: your state-issued sales tax identification number.

2. Business information: the legal name and address of your business.

3. Filing period: the period for which you’re filing the sales tax return. 

4. Payment amount: the amount you owe in sales tax. 

Setting Up Payments

1. Online payment system access: most states have an online portal for sales tax payments. You’ll need login credentials to access this system.

2. Authorization form: some states require a completed authorization form for electronic payments, which may need to be submitted before making your first payment.

Make sure to check the specific requirements and procedures for the state in which you’re making the payment, as they can vary. When making sales tax payments pay special attention to

• Payment due dates: schedule payments in 2-3 days in advance of the due to avoid processing delays, especially if there’s an observed US-holiday

• Electronic payments: many states offer electronic payment options like ACH transfers or online portal

• Foreign banks: understand the requirements if you only have a bank account located outside the US

• Currency conversions: ensure your bank supports international ACH transfers or use a service that facilitates cross-border payments

• Time zone differences: account for time zone differences to ensure payments are made on time according to US deadlines

Important Note: It’s also a good idea to keep records of all transactions and confirmations. 

If you have any additional questions about banking information when paying your sales tax payments, you can reach out to our Taxually team!

FAQ

What happens if my payment is declined?

If you receive a notice regarding your declined payment, you’ll need to contact the state Department of Revenue to re-try the payment. Pay close attention to possible penalties and interest associated with a late payment. 

Should I take any actions to ensure my ACH debits are successful?

Debit Block, (also known as ACH debit block) is a security feature implemented by banks to prevent unauthorized Automated Clearing House (ACH) debits from being withdrawn from a bank account. It’s important to understand how a debit blocker can impact your transaction. To avoid this issue from happening, you’ll need to add the originator identification (ID) number to the approved list with the bank you’re using. 

What is an Originator ID?

It’s a 10-digit ID assigned to the state’s Department of Revenue by your bank. You’ll need to visit the state’s website or call to verify the originator ID for the most up-to-date ID available.