If they report their tax income as self-employment income, on a partnership return or as an S corporation, as opposed to a traditional C corporation, then technically you are required to issue them a 1099-NEC form.
Of course you won't know that, so the safe thing to do would be to request that they complete a W-9 form and issue them the 1099 form. As a practical matter, if they are a large company, as opposed to an individual, it is not normally done.
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