MCC 1750 pertains to businesses operating as carpentry contractors, providing services such as framing, custom woodwork, cabinetry, and other wood construction or repair projects for both residential and commercial clients.
Interchange Fee
Interchange fees for MCC 1750 transactions generally range from 1.6% to 3.5%, based on the payment processor, card network, transaction volume, and associated risk factors. The fees for carpentry contractors may vary depending on the nature of the contract and the size of the transaction.
Cashback Rewards
Certain credit cards may offer cashback or reward points for payments made to carpentry contractors. Rewards may apply to home improvement or renovation categories, but specifics will depend on the individual terms and offers from each card issuer.
Rules and Restrictions
There are no special rules that payment processors typically enforce specifically for MCC 1750 transactions. Standard rules for card-present and card-absent transactions apply as determined by the relevant card network policies and processing guidelines.
Tax Reporting
For tax purposes, payments under MCC 1750 are categorized as payments for services. In the United States, certain transactions may require reporting to the IRS if they meet reporting thresholds. Buyers are generally not taxed directly for these services, but carpentry contractors must comply with applicable tax regulations.