Payment of Corporations
CAPS will pay loan-out corporations adhering to the following guidelines:
- The corporation must be valid and currently registered
- Must be single-owner entity* (see exception below)
- Single owner owns all shares of the company
- Corporation appears on state website as an active corporation AND owner provides W-9 Form to CAPS
*Exception: A married couple (e.g. husband and wife DGA team) may both be loan-out employees of the same corporation. A Loan-out Corporation may also consist of multiple members of a band or other performance group.
Documentation needed for loan-outs:
- S-Corp or C-Corp: Completed W-9 and a valid Form I-9 are required. In certain circumstances, if CAPS needs further clarification, Articles of Incorporation may be requested.
- Single Member LLC: W-9 and IRS Acceptance Letter, approving the "S" or "C" corporation status, and a valid Form I-9 are required. In certain circumstances, if CAPS needs further clarification, Articles of Incorporation may be requested.
- Partnerships: W-9 and either a 1065 Tax Return or Partnership Agreement and a valid form I-9 are required. In certain circumstances, if CAPS needs further clarification, Articles of Incorporation may be requested.
CAPS does not pay:
- Disregarded entities
- DBAs, businesses, corporation partnerships, vendors, etc.
- Individual/sole proprietorships