Can minors do business with public companies?

[moneybookers]

I'm selling a website to a public company, and now they're asking for my full name, address, and either a driver's license or passport. They say that as a public company they are required by their auditors for each purchase they make.

Is this a scam?

[Austy]

I'm not saying that it is for a fact not a scam, but none of that information sounds unreasonable. Public companies do have to report and if your business was under your name and not made a corporation, LLC or something like that then the business info is your info.

If they are a public company they should be easy to research and I would have witnesses to the fact during discussions.

[OweLessTax]

The "Reporting" that is being eluded too is the requirement to file a 1099 with the IRS on payments to individuals of $600 or more during the calendar year. that is so the IRS has record of the payments and they can expect a tax return and acocunting for that $600 or more on it.

However the IRS does not require a passport or drivers license, they require your Social Security number.

The Buyer may want to be sure they are dealing with the person that has the right to sell the domain, and not make a payment to someone that merely claims they are the owner. I'd probably want to verify that before I dropped a check in the mail for a few grand. If you have been negotiating with a reputable company then they would have little use for your identity info.

If on the other hand, all of your negotiations have been through email and stem from a random contact, and you haven't verified the credibility of the person you ahve been working with. It would be time for you to do your due dilligence. Gat a phone number, verify it is the general number at that business, call that number and ask for the person that you have been dealing with.

Richard Fritzler
Nevada Corporate Services Com
800 590-6612

[honestjenn]

Well, just be very careful. Some companies are selling private infos.