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Can I collect PayPal information from participants in New Mexico? What are the requirements?
Requirements for Collecting PayPal Information from Participants in New Mexico
Based on the provided context documents, there are no specific requirements mentioned regarding collecting PayPal information from participants in New Mexico. However, if you are collecting payments from individuals or entities in New Mexico, you may be subject to New Mexico tax laws and regulations.
According to 3.3.5.16 NMAC, if a remitter or pass-through entity is not excused from the obligation to deduct and withhold from payments because of the provisions of the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act, the obligation to deduct and withhold remains in force until the remitter or owner establishes that the corporation’s principal place of business or the individual’s residence is in New Mexico.
Therefore, if you are collecting payments from individuals or entities in New Mexico, you may need to establish their residency status and comply with New Mexico tax laws and regulations. It is recommended that you consult with a legal professional or tax expert for further guidance on this matter.
In summary, there are no specific requirements mentioned regarding collecting PayPal information from participants in New Mexico, but you may be subject to New Mexico tax laws and regulations if you are collecting payments from individuals or entities in New Mexico.
Jurisdiction
New Mexico