You generally shouldn't be paying taxes on points. Bank account bonuses are classified as "interest", hence the 1099. Credit card Points are a "discount" or "rebate" on amounts spent at merchants, at least if min spend is required to receive the points or bonuses.

Discounts are not income therefore not taxable.

Of course with business credit cards, a discount does reduce the tax deductible amount of your business expenses - but most of us with business cards don't always only use them for tax deductible business expenses, right?