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Treasury: Many choices for business taxpayers and tax professionals to submit 1099-NECs to State of Michigan

Options include online, magnetic media and paper forms

LANSING — Business taxpayers and tax professionals have many options for submitting their 1099-NEC forms to the state, according to the Michigan Department of Treasury.

For the 2020 tax year, the Internal Revenue Service debuted the 1099-NEC to report nonemployee compensation of $600 or more to a payee, rather than reporting it on the 1099-MISC. With business taxpayers required to submit their 1099-NECs to the state Treasury Department on or before Feb. 1, 2021, they can choose one of the following options:

Michigan Treasury Online (MTO): While open to all taxpayers, businesses issuing 250 or more income statements are required to use MTO to send W-2 and 1099 forms. Taxpayers and tax professionals can create a personal user profile and upload their forms. For guidance, visit the MTO Help Center.

Mailed Magnetic Media: The state Treasury Department offers magnetic media mailing to taxpayers with fewer than 250 income statements. Details for mailing magnetic media can be found on Transmittal for Magnetic Media Reporting of W-2s, W-2Gs and 1099s (Form 447).

Paper Form Mailing: Paper copies of income statements from issuers with fewer than 250 statements may be mailed to the following address: Michigan Department of Treasury Lansing, MI 48930.

Sales, Use, and Withholding Taxes Annual Return (Form 5081) is due March 1. The 1099-NEC statements should be sent separately, as indicated above. Do not send additional copies with Form 5081.

To learn more about Michigan’s tax system, go to www.michigan.gov/taxes or follow the state Treasury Department on Twitter at @MITreasury.

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