What are Missouris requirements for the reporting of miscellaneous income?
All individuals, businesses and corporations who are required to make a federal at source information report must file an annual statement of payments made to residents and /or nonresidents, regardless of the manner or form in which payment is made of: • payments made to a resident and /or nonresident of rents, royalties, commissions, prizes, awards or other forms of compensation; • other forms of fixed or determinable gains, profits; or • income with an annual combined worth of one thousand two hundred dollars ($1,200) or more from a Missouri source, which is not subject to withholding and not a part of an information report of S corporations or partnerships. Missouri does participate in the combined federal/state reporting of information program. Annual statements ARE required of any individual, business or corporation making those payments to Missouri residents and nonresidents.
All individuals, businesses and corporations who are required to make a federal at source information report must file an annual statement of payments made to non-residents, regardless of the manner or form in which payment is made: • to a nonresident of rents, royalties, commissions, prizes, awards or other forms of compensation; • of other forms of fixed or determinable gains, profits; or • of income with an annual combined worth of one thousand two hundred dollars ($1,200) or more from a Missouri source, which is not subject to withholding and not a part of an information report of S corporations or partnerships. Missouri does participate in the combined federal/state reporting of information program. Annual statements will not be required of any individual, business or corporation making those payments to Missouri residents.
