New York: Why It’s Best to Remit the Sales Tax You Collect
- May 29, 2015 | Gail Cole
Two business owners in New York State are being charged with multiple felonies for collecting sales tax but not remitting it.
Robert Britton of Fairport reportedly collected $120,289 in sales tax from his auto repair shop customers between December 2008 and November 2013. He is accused of filing false sales tax returns and “substantially underreporting sales and sales tax collections.” If convicted, he could spend between five to fifteen years in prison.
In a similar case, Gerald Losquadro of Nassau County was found guilty of collecting more than $27,000 from his auto body customers between September 2009 and December 2010 — money he kept rather than remitting to the state. The Court has ordered him to pay full restitution in the amount of $27,588 to New York State.
The New York State Department of Taxation and Finance website provides details of numerous tax scofflaws. It’s in every business owner’s best interest to avoid such publicity.
Sales tax automation software can’t turn a thief into an honest person. However, it can help law-abiding citizens be more compliant. Learn how it works.