The California Franchise Tax Board has provided us with the below statement:
The
FTB determined that the Middle Class Tax Refund (MCTR) payments may be
considered federal income, and thus determined FTB had a requirement to issue
forms 1099-MISC for MCTR payments of $600 or more pursuant to the controlling
federal regulations. The 1099-MISC for MCTR can be identified as a form 1099
received from payer Franchise Tax Board – MCTR. MCTR
payment amount will be reported in box 3/other income.
