1099- does an LLC and LLP get a 1099?
Should I be sending a 1099 to a LLC or LLP? I was told to send to everyone who was paid 600 or more but not to anyone who is incorporated. Is this corect?
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01/23/08 12:35pm PST
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01/23/08 12:48pm PST
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Unless you are talking about thousands of 1099s, you can't go wrong by sending them to "independent contractors" LLCs and LLPs. There are fines for not sending 1099s when you should. There are no fines for sending 1099s when it is not required.
If anyone calls you and says "Why did you send me a 1099? You didn't need to." Just respond,"If you report all your income for the year, it shouldn't create a problem."
This link may help if you want some more information:
http://www.entrepreneur.com/ma...
I hope this helps. Let us know.
