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TAX ON TIME - The alarming consequences of not making timely dealership tax payments

Auto Dealership Owners Receive Tax Fraud Sentence

SPARKS
May 31, 2018
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A part owner and treasurer of a former Lancaster County automobile dealership was ordered to pay over $722,000 in restitution and sentenced to 10 years of probation, after he pleaded no contest in a tax fraud case, charging him with five counts of receiving deposits in a failing financial institution.

This is the second conviction in a case that was also brought against another part-owner in 2017 who also plead no contest to the same charges and was also sentenced to 10 years of probation, in addition to the over $722,000 in restitution. The restitution imposed at sentencing is to be paid to creditors, companies, and customers who did business with the former Pennsylvania dealership.

When it comes down to it, there’s no way of avoiding your tax burden – it is imperative that automotive dealership owners play by the rules – this means paying attention to all of the details of tax compliance and paying your taxes on time.  Compliance not only reduces an automotive dealership owner's personal exposure, it avoids costly penalties and interests.


The 2018 May - December Automotive Industry Sales Tax Calendar is available HERE