Section 26-19-106 - Payment by corporation(a) If the Secretary of the Department of Finance and Administration determines that a corporation's estimated quarterly state income tax liability under § 26-51-911 et seq. equals or exceeds twenty thousand dollars ($20,000), the corporation shall pay the quarterly income taxes due by electronic funds transfer.(b) A corporation's quarterly liability shall be determined on the basis of average quarterly liability for the preceding year.(c)(1) The transfer shall be made no later than the day before the due date for payment of the taxes so that payment of the taxes is received by the secretary on or before the due date for payment of the taxes as required by the laws of this state.(2) If the corporation's income tax payment is timely made by electronic funds transfer, the corporation is not required to file a quarterly estimated tax declaration.Amended by Act 2019, No. 910,§ 3667, eff. 7/1/2019.Amended by Act 2019, No. 910,§ 3666, eff. 7/1/2019.