MCC 1761 covers businesses specializing in roofing, siding, and sheet metal work. These contractors provide installation, repair, and maintenance services for residential and commercial buildings, ensuring structural integrity and protection from environmental elements.
Interchange Fee
Interchange fees for MCC 1761 transactions generally range from 1.5% to 3.25% depending on the payment network, transaction type, and assessed risk level. Contractors handling large-scale projects may have different negotiated rates based on transaction size and volume.
Cashback Rewards
Cashback or rewards for payments made to roofing, siding, and sheet metal contractors can vary depending on the card issuer. Rewards may be categorized under home improvement or repair, with specific offerings and percentages determined by individual card programs.
Rules and Restrictions
There are no special rules imposed by payment processors specifically for MCC 1761 transactions. General rules for card-present and card-absent transactions apply according to card network policies and processor guidelines.
Tax Reporting
For tax purposes, payments under MCC 1761 are classified as service payments. In the United States, certain payments may require reporting to the IRS depending on their value and purpose. Buyers are not typically subject to direct taxes on these services, but contractors must ensure compliance with tax reporting regulations.