Disclaimer
Referral Partner Commission Tax Information
As part of our commitment to transparency and compliance, we provide important tax-related information for our valued referral partners. Below is a brief overview of the tax implications and requirements associated with the 2% referral commission offered by Elite Turf.
Understanding Your Tax Obligations
Taxable Commission: The 2% referral commission you earn through Elite Turf is taxable income, subject to federal and state tax regulations.
In accordance with federal law, for commissions exceeding $600, a 1099 form must be completed and kept on file.
Mandatory Form 1099 Submission: To adhere to IRS requirements, all referral partners must complete and submit a Form 1099. This document is crucial for accurate tax reporting and is necessary to process your commission payments.
Form 1099 Submission Process
Complete the Form: Fill out the Form 1099 with the necessary information.
Submit the Form: You can submit the completed form in one of two ways:
Email: Send it to [email protected]
Mail: Post it to Elite Turf, 1811 East Parkside Lane, Phoenix, AZ 85024
We encourage all our referral partners to complete this process promptly to ensure seamless commission payments. Your cooperation greatly aids in maintaining efficient and compliant financial practices.
Should you have any inquiries or need assistance with the Form 1099, please feel free to contact us. We're here to help!
