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Are there tax exemptions for a utility board of directors?

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  • Are there tax exemptions for a utility board of directors?

Possibly.

IRS Pub 525 says:  Corporate director. Corporate director fees are self-employment income. Report these payments on Schedule C (Form 1040) or Schedule C-EZ (Form 1040). 
 
They are usually sent a 1099 UNLESS they perform work that contributes to the daily business management or functions of the company. Then they are full W-2 employees.
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