Form W-12 Oceanside California 2024-2025

Form W-12 Oceanside California: What You Should Know

For business entities, the signer must be an Officer or employee of the company or corporation responsible for the financial management and record keeping, plus one authorized signer from each contracting party. A copy of the signed W-9 form, with a photo and signature, must accompany the Form 1035-C or IRS W-9 for each vendor or independent contractor for the entire time of the business. The filing fees are the same for any vendor or independent contractor. The city code in California mandates that all businesses need to use a certified copy of the completed W-9 form, so the IRS knows to report the income. This document must be on file at all times. Vendor or independent contractor income must be reported in the correct Form 1040 (or equivalent) tax form Example The vendor is a manufacturer of automobile parts. As an independent contractor, the company is reporting the amount of gross income to be included on the tax forms when the vendor earns wages. The vendor makes 1,000,000 in annual income and the company reports 6,400,000 as gross income from the vendors. This includes the vendor's wages and the vendor will be reporting the gross income from that source on both their 1040 and 1040A income tax forms. If the company does not have a written agreement with the vendor, they must report gross income on the 1040 as “gross wages.” If your corporation or partnership operates as an independent contractor you are required to file an amended tax return as well as pay tax on that income, see the following IRS publications for more information. Example The manufacturer is a business entity that operates as an independent contractor. The corporation or partnership has the W-9 form on the records and has agreed to report gross income on all tax forms in which they are listed as the employer. As a corporation or partnership, they will report 500,000 of annual gross income in the corporation or partnership tax forms as a “gross wages” source. The company needs to send the W-9 to the corporation or partnership for approval. A copy of the W-9, with a signed photograph of the officer responsible for the records.

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