Do I have to issue a 1099 to a corporation for commissions earned?

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Do I have to issue a 1099 to a corporation for commissions earned?

I own an insurance company and one of the companies that I sold insurance policies for told me today that they did not issue a 1099 to me because I am a corporation and it is not required.

2007-11-21 14:44:56 · 3 answers · asked by Nan 1 in Business & Finance ➔ Corporations

3 answers

they are correct. The $600 is not relevant since you are a corporation.

2007-11-21 14:52:47 · answer #1 · answered by Corruptfile34 5 · 0⤊ 0⤋

Go to www.irs.gov and put 1099 in the search bar. Read the rules for yourself, so you know.

I would warrant a guess that most of the people who will answer you question are not tax lawyers, accountants, or irs agents, including me.

2007-11-21 14:49:16 · answer #2 · answered by Dan H 7 · 0⤊ 0⤋

If the commisions were 600.00 or more.

2007-11-21 14:48:10 · answer #3 · answered by bob b 2 · 0⤊ 0⤋