Legal Question in Business Law in California
Can my credit card processor force me to sign a W-9 if under the new law I am excempt? I have a small business and fall below the thresholds.
Asked on 10/25/10, 1:48 pm
1 Answer from Attorneys
I am not aware of any new law that makes anyone exempt from providing a W-9. If you mean you are exempt from back-up withholding, that has nothing to do with whether or not you must provide a W-9. In fact the W-9 form in part 2 allows you to certify that you are exempt from back-up withholding right on the form. None of that, however, has anything to do with the processor's right to a W-9 so they can fulfill their obligation to report funds collected for and distributed to you.
Answered on 10/30/10, 2:03 pm
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