17 NCAC 06C .0203. ANNUAL REPORTS

(a)  At the end of each calendar year employers shall furnish wage and tax statements, Form W-2 to employees and Form NC-1099PS to contractors from whom tax was withheld.  Two copies must be furnished to the employee or contractor and one copy must be furnished to the Department.  Pension payers must report pension income and State tax withheld on federal Form 1099-R.  The pension payer must give the Department a copy of a 1099-R given to a recipient of a pension payment if the 1099-R shows State tax withheld.

(b)  Reports of payments of income, interest, rents, premiums, dividends, annuities, remunerations, emoluments, fees, gains, profits, taxable meal reimbursements, and other determinable annual or periodic gains during a calendar year must be made on Information at the Source Reports, Form NC-1099, if the payments have not otherwise been reported.  Form NC-1099 reports are not required to be filed if the payments have been reported to the Internal Revenue Service under the provisions of Section 6041 of the Code, the payments have otherwise been reported to the Department, or no North Carolina income tax was withheld from the payments.  Notwithstanding the above, any person required to file Form NC-1099 NRS under the provisions of 17 NCAC 06B .3804(c) must do so regardless of any requirement to report the sale to the Internal Revenue Service.

 

History Note:        Authority G.S. 105-154; 105-163.2; 105-163.2A; 105-163.7; 105-262;

Eff. February 1, 1976;

Amended Eff. September 1, 2008; February 1, 2005; April 1, 2001; August 1, 1998; June 1, 1993; February 3, 1992; October 1, 1991; February 1, 1991.