Form 1099 Nec for South Carolina 2024-2025

Form 1099 Nec for South Carolina: What You Should Know

What Is Your 1099 State Filing Responsibility for the 1099-MISC? South Carolina requires 1099-NEC for South Carolina's withholding to any 1099 form. A 1099-MISC form must be filed only if one or more of the following applies: · A withholding exemption has been granted to the taxpayer or any family member of the taxpayer · The person is covered by this exemption · The person is a resident of another state; · The person is described on the South Carolina 1099 tax form. The first 1099 should state the amount, if any, of the payment you are reporting. South Carolina 1099 State Filing Requirements The following are required South Carolina annual state business and occupation tax form (DISCO): South Carolina 1099 Form IRS 1099 State Form. The form must be completed and filed with the South Carolina Department of Revenue. This document has the following information: · Form number 1 — South Carolina Business & Occupation Tax Return. · Individual tax information on line 4 and line 5, including the first-line Social Security Number and tax year; · Individual tax year or month, and the line number of the 1099. · The tax year with the “F” for February, May, July, September, November, and December. • The filing status of the South Carolina business and occupation tax return is on line 7, then the Tax Year. 1099 State Form 1099-MISC • Form number 2 — South Carolina Individual Income Tax Return. Taxable income that was reported with state income tax on the South Carolina tax form. Required: • The full Social Security Number in the first-line field (SSA). • The Tax Year field is blank when using the line number 1, 2. 1099-MISC forms cannot be used to report tax on capital gains from stock. • Taxpayer's federal and state (if not South Carolina) social security number on the front page. Required: Taxable and social security numbers should be entered on each separate line (1, 2, 3, and 4). Form 1099-FN • Form number 3 — South Carolina Tax with No County Report. For businesses, individuals with one or more qualifying dependents, businesses that report on Form 1099-MISC, and farmers or rural real estate contractors. This form is used to report the income earned on real estate sales or improvements. When submitting a Form 1099-FN to the S.C.

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