P2P in New Mexico

[miguelnovak]

Hello everyone

I am currently investing in LC and Prosper.
I might move from Colorado to New Mexico, where there are restrictive regulations regarding Prosper and LC.

Questions:

1. If I move to NM, Can I keep both accounts or do I have to "liquidate" them? I know LC still allows foliofn .Prosper eliminated it a few months ago
2. I assume that one can keep the accounts , withdraw cash , and NOT invest in any new notes, Is this right?
3. Taxes: accounts in Colorado and maybe in 1 or 2 years residing in NM. what happens?
4.Any other way, unofficial but legal? or "semi-legal" (Some times in life things are complicated because of laws, right?)

Thanks and best wishes
Miguel

[BruiserB]

I would just "forget" to change my address. I don't know about Prosper, but LC never actually mails you anything. As far as taxes go, just file your federal and new state taxes as usual. I'm not a tax attorney and have no basis for this advice other than it's probably what I'd do in your situation.


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[Debt Free]

Ignorance is bliss.  Unless they track your IP address to determine location.  I'd run with it until otherwise notified.  I'm sure in time, New Mexico will come around.

It's easier to ask forgiveness than it is to get permission.

[Peter]

You would be precluded from buying or selling notes (on primary or secondary), but you would certainly not be forced to "liquidate" notes...

I will not offer ethical, legal, or tax advice - but I don't think any decision would land you either in hell, in court, or in the clutches of the IRS.

Adios, muchacho!

[TravelingPennies]

Also consider they would have to prove you DO NOT have a residence anywhere else.  If you had a winter home in New Mexico, what precludes you from being able to invest if you also had a home in a state where it is allowable?