Subcontractor Requirements
Description
How to fill out Agreement Between Cable Television Contractor And Subcontractor?
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FAQ
If you paid someone who is not your employee, such as a subcontractor, attorney or accountant $600 or more for services provided during the year, a Form 1099-NEC needs to be completed, and a copy of Form 1099-NEC must be provided to the independent contractor by January 31 of the year following payment.
If you are an independent contractor or vendor, you will be asked by the company that uses your services to fill out a W-9 form. This form provides the information needed to issue you a 1099 income form at the end of the year.
9 Form Instructions Line 1 ? Name. This should be your full name. ... Line 2 ? Business name. ... Line 3 ? Federal tax classification. ... Line 4 ? Exemptions. ... Lines 5 & 6 ? Address, city, state, and ZIP code. ... Line 7 ? Account number(s) ... Part I ? Taxpayer Identification Number (TIN) ... Part II ? Certification.
In order to be given a subcontract, a business must be in good standing with its home state stipulations, such as having an up-to-date file for its tax returns. For tax purposes, a subcontracting company is required to register with the Internal Revenue Service (IRS) to receive an Employer Identification Number (EIN).
Each subcontractor should complete Form W-9 before they begin any work. On the form, the subcontractor identifies their business structure type (sole proprietorship, corporation, etc.). Form W-9 also asks for the subcontractor's name and Taxpayer Identification Number (TIN).