35 Miss. Code. R. 3-11-01-100

Current through December 10, 2024

Section 35-3-11-01-100

Every individual, partnership, corporation, joint stock company or association, insurance company and any other person, including all exempt corporations not subject to tax under the provisions of the act, making payment to another person of interest, rent, salaries, wages, premiums, annuities, compensation, remunerations, emoluments, patronage dividends or other fixed or determinable gains, profits or income must complete an information return, Form 1099, for each payee in instances where such payments to each recipient:

1. Exceeds $3,000 annually and embraces salaries, fees, commissions, prizes, bonuses and other income from personal services not otherwise reported as required by Code Section 27-7-311 on Form W-2, or

2. Exceeds $600 annually and embraces dividends, interest, rents, royalties, annuities, pensions, premiums, corporate liquidations and other fixed income.

35 Miss. Code. R. 3-11-01-100