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AK Form 1099-MISC: What You Should Know

In Alaska, dividend income is subject the Alaska Nonresident Exemption and Tax and a 1041 tax is due on Form 1099-K for each 1099MISC that is received by the individual. Dividends received by one person from the same employer do not form a series of earnings, so they do not need to be reported as individual incomes. To find out the 1099-K tax you can expect: On the 1040, 1040A and 1040NR you can see the actual 1099-K in box #6 (Form W-2) and the total amount in box #7 (Form W-2C). In the 1099-K, it will say “total wages or services” so it shows you the total amount received from all sources. Alaska Income Tax For Citizens, Residents, and Non-resident Aliens Alaska has no income tax for the following persons. Alaska resident aliens and foreign persons subject to the federal tax on income of Alaska residents. They are referred to as non-resident aliens. Alaska Resident Tax Table (Form 941) Residents of Alaska may be subject to certain payroll taxes as follows: Income Tax is withheld on all wages, salaries, tips, and any other income received by a person when the person is present in Alaska, whether due to birth, adoption, or lawful permanent residence. Alaska resident aliens are subject to a tax on wages and tips which is not withheld. Alaska resident alien wages tax is subject to a 3.8% tax. Wages may be subject to some tax (4.6%) if the wages are not properly paid. Nonresident aliens are not subject to tax. An amount equivalent to the tax on wages and tips paid to an alien which is attributable to income not subject to the tax is called the tax-in-kind. If all wages and tips paid to an alien are subject to the tax-in-kind, the withholding and payment of the tax-in-kind to that alien is a matter of good faith compliance with the law. The tax-in-kind must first be reported to the Alaska Department of Revenue prior to withholding. The withholding is then made. An additional withholding of 1.4% can be imposed per month for the first 25 wages paid. The tax-in-kind is then paid or credited as follows: 1.

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