I received a W-9 from a vendor who has indicated that they are an LLC with the tax classification of S Corporation. Does this vendor need a 1099?

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An S-Corp, just like a C-Corp, is under the corporate exception for 1099 reporting. You do not have to report.  (An LLC is a state-level designation that does not have one specific federal tax classification; LLCs can fall under different tax classifications, which is why the W-9 form now has them specify classification.)

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