Michigan Department of Treasury Issues Revised Instructions for Sales, Income Tax Payments Using EFT Credit

The Michigan Department of Treasury Dec. 1, 2023 issued a revised Form 2329, Instructions for Payments of Sales, Use, Withholding, and Other Business Taxes Using Electronic Funds Transfer (EFT) Credit, for sales and use, individual income, and corporate income taxpayers. Taxpayers opting for EFT credit must: 1) use the Cash Concentration and Disbursement (CCD) plus addenda record format; 2) determine the taxpayer identification number, tax type code, and the tax period end date for the electronic funds transfer (EFT) addendum record; 3) create and transmit the EFT credit file when ready to make a payment; and 4) refer to Appendix ...