New York 1099 Tax Obligations for Companies

Last Updated:

December 3, 2016

Does New York require state 1099 tax filing?

Not generally but annuity payments (1099-R) are subject to state tax reporting as well as payments from:

Merchant acquiring entities
Third party settlement organizations
Electronic payment facilitators
Entities acting on behalf of third party settlement organizations

These fall under the reporting requirements of a 1099-K form.

Does New York participate in combined federal and state filing?

No,

What is the state filing deadline?

Within 30 days of filing federally, companies need to file 1099-Ks with the state as well:

Paper filing: February 29, 2016
Electronic filing: March 31, 2016

Additional filing requirements:

Reporting the identical information filed with the IRS. Although this may include information from out-of-state payments, the Tax Department is prohibited from using any information not related to New York payees.

Reporting payments related to New York payees only. If you choose this option, you must request a database file of New York payees from the Tax Department, which will be available 45 days before the filing deadline. You must:

report payments to all payees contained on the New York supplied database;
report payments to any other payees with a New York State address; and
sign a confidentiality agreement as to the contents of the database.

New York requires electronic filing of 1099-Ks.

What is the agency responsible?

Department of Taxation & Finance

800.972.1233

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The information contained on this website is a summary of certain United States federal income tax rules relating to the reporting and taxation of payments processed by Payable. This discussion is based upon the provisions of the Internal Revenue Code, Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the Internal Revenue Service, all as in effect as of the date hereof. These authorities may change, possibly with retroactive effect. Any such change in the law could alter or modify the statements and conclusions set forth on this website. The summaries included on this website do not purport to deal with all aspects of U.S. federal income taxation that may affect you in light of your individual circumstances. The information contained on this website does not address any reporting or tax consequences under state, local or foreign tax laws.

The tax discussion on this website is included for general information only. It is not intended to be, nor should it be construed to be, legal or tax advice to you. ACCORDINGLY, YOU ARE URGED TO CONSULT WITH YOUR OWN TAX ADVISERS REGARDING THE SPECIFIC TAX CONSEQUENCES OF YOUR PAYMENTS PROCESSED BY PAYABLE IN LIGHT OF YOUR PARTICULAR CIRCUMSTANCES, INCLUDING THE APPLICABLE FEDERAL, STATE, LOCAL AND FOREIGN TAX CONSEQUENCES.