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What Is the Tax Classification on a W9 Form?

When you or your business is on the receiving end of a payment, the payer may request a completed W-9 so he can properly report your payments to the Internal Revenue Service on an information return, if necessary. When filling out a W-9, you'll have to indicate the appropriate tax classification, such as a corporation, partnership or individual.

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Tax Classifications on the W-9

A tax classification refers to the set of rules governing how individuals, businesses and other entities are taxed. On the W-9, you can select between individual, sole proprietor, single- and multi-member limited liability company, C and S corporation, partnership, or trust or estate. Since these types of entities all pay taxes under different sets of rules, marking the correct box is important.

Some Tax Classification Differences



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