South Carolina
South Carolina mandates filing 1099 forms only if state taxes withheld. Recommended filing method: Magnetic media. Reporting threshold: File 250+ 1099s electronically.
Anyone over 65 who earned over $15,000 (single) or $30,000 (married) must file a SC return. SC taxes all income even if earned outside the state. Use Form-1040. No taxes on Social Security. Can claim retirement income deductions up to $10,000.
Pennsylvania and Louisiana
Pennsylvania requires 1099-NEC even if no state withholding. Most states require W-2 and 1099 filing with additional information on reconciliation or transmittal Forms. Some states mandate ACA 1095 Filings.
Louisiana does not participate in CF/SF program. Must file 1099 forms directly with the state. Maryland accepts e-filing.
New Mexico
Yes, the New Mexico Taxation and Revenue Department mandates the filing of the 1099 Forms only if there is a state tax withholding. The Taxation and Revenue Department encourages all taxpayers to file electronically. You may be required to file New Mexico state reconciliation form RPD-41072, upon the state’s request.
The IRS automatically forwards 1099s to New Mexico, including 1099-MISC for non-employee compensation.
1099-G shows refund, credit, interest from tax returns. Must file to disclose government payments. States mail 1099-G, some will not.
Must report 1099 payment regardless of amount or filing. No need to report for 1099-K, 1099-CAP, 1099-C.
With clear books, Bench provides 1099 report for easy tax filing: Who to file NECs for, amounts and transactions paid, file NEC or MISC.
Must report $600+ non-employee compensation on 1099-MISC. If self-employed, report $400+ income.
Businesses send 1099s. Various forms for different payments. Use 1099-NEC for non-employee compensation, 1099-MISC for other income like rents.
Many 1099 versions with unclear requirements. Popular versions: 1099-K for $20,000+ in third party transactions; 1099-MISC for $600+ miscellaneous payments.
File 1099s if paid $600+ to non-employees and non-corporations. Most will file 1099-NEC. Determining which form tricky. 1099-MISC still used.
Contact payer if no 1099 by February 15, or call IRS. Call IRS at 1-866-455-7438 with questions. Can get Form 1099-MISC from IRS or office supply stores.
- Required Forms? 1099-NEC, 1099-MISC, 1099-R.
- Filing required in New Mexico? Yes, even if no state tax withheld.
- Submit W-2 Forms? Yes, if state tax withheld.
- 1099 Due Date? January 31, 2024.
Sole proprietorships and partnerships must file 1099s for $600+ payments by February 28 (paper) or March 31 (electronic).
1099-NEC replaces 1099-MISC for non-employee compensation. Know the differences in preparing and filing them.
Who is not required to file 1099? Additional state requirements: You may be required to file reconciliation form RPD-41072. Customers must file paper copies.