As the tax filing deadline approaches, The National Automatic Merchandising Association advises vending operators that the IRS has issued rulings concerning arrangements when the machine owner and the business owner agree to divide receipts from the machines on a percentage basis.
The general rule is that reporting of payments to corporations are not required, NAMA noted. But if the payment is made to an individual and totals more than $600 annually, a Form 1099 may be …
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