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Form 1099-MISC ND: What You Should Know

It also reports payments you make to people who can claim a tax refund (referred to as a “taxpayer”) or payments you make to individuals in the form of annuities, trusts or other endowments. 1099-MISC reporting requirements generally apply to payments you made to business partners, clients, vendors or customers. Payments made to an individual are generally reported to the individual. Who Must Report Payments to You? You are required to report the income your business receives (if you are conducting a trade or business in North Dakota) and compensation you receive from customers or trade partners. What are the Reporting Requirements? To report payments made to yourself, clients, customers, vendors or trade partners: Payments to your individual clients, clients' spouses or to individuals who are spouses of your customer(s), customers and their spouses are included on Form 1099-MISC. You may be required to file Form 1099-MISC with Form 2555, North Dakota Employer's Quarterly Federal Unemployment (FTA) Compensation Report, if the payment to you exceeds your weekly take home pay (that is, if you receive more than 1,650 per week, your reporting period must be the 12-week period beginning on the first day of the payment period). To report payments by the vendor to you, you must: Identifying yourself and providing your employee identification number (EIN) if you are the vendor or paying the vendor in a manner that permits the payment to be reported to your individual client(s), clients' spouses or to individuals to whom you have granted an election to designate them as the vendor's primary representative. File Form 1099-MISC with Form 2555, and report in box 4, code 4.00, any payments made at the time of payment to the vendor. Payments to vendors who work under a joint distribution plan (which allows you to pay for a business's debt obligations to an independent contractor) and the vendors you distribute to must be reported to your separate employer withholding return. If you are the vendor, you are required to obtain a separate federal income tax withholding Certificate of Exemption to pay the tax on these payments. The certificate must be attached to the payment. The payments you report must be reported on Form 1099-MISC to individuals who have elected, under the rules of 26 U.S.C. 7607(d), to be reported on their individual 1099-MISC forms.

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