Holiday in Mexico

5 Comments

1. 

   Electronic Banking. Money order. And overnight delivery from the post office.

   Comment by robin_mallory@rogers.com — June 11, 2008 @ 1:29 pm

2. 

   I would check with whomever you have to do your taxes,
   they should be able to help you. Or maybe check with
   h&r block or one of those places.

   Comment by chmar11 — June 13, 2008 @ 8:07 am

3. 

   You need to register your business with the State of New Mexico.

   Go to the New Mexico dept. of revenue’s website and there should be links on how to do it.

   Once you get a “CRS” number, you can start withholding New Mexico taxes (Federal and Social Security would be the same as a California company). You will also have to start paying New Mexico unemployment taxes and may have to start collecting New Mexico sales tax.

   Comment by Wayne Z — June 15, 2008 @ 12:16 am

4. 

   You don’t have to withhold NM State taxes if you don’t have a nexus in NM. Your employee may have to make NM estimated income tax payments if you do not withhold.

   You do have to withhold Social Security, Medicare and Federal Income Tax as usual.

   Comment by bostonianinmo — June 17, 2008 @ 8:13 am

5. 

   It sounds like you are not registered to do business in NM. You might want to check with the NM Secretary of States office, and the law, to make sure what you are doing in NM is legal. Otherwise you could wind up owing the State a lot of money in fines and penalties for ignoring the law.

   If you want to learn how you can LEGALLY reduce your tax burden (this applies to all forms of taxation at all levels of government) you’ll know where to find me.

   Comment by Zero1 — June 17, 2008 @ 10:22 pm

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