do foreign corporations issue 1099
Payment. You must issue a 1099 for any amounts over $600. You do not have to issue a 1099 for payments below $600. You must also issue a 1099 for any royalties you paid in excess of $10 or for any broker's fee above $10.hen your small business contracts with other businesses -- including corporations -- for services, you must issue a 1099 to the provider before Jan. 31 of the year following payment. You must mail a copy to the Internal Revenue Service by Feb. 28.