Latest OnLine Editon  Read Here

Dealer Pays Nearly $100K in Penalties, Interest

Dealer Pays Nearly $100K in Penalties, Interest Featured

A Washington State auto dealer was ordered to pay the state $240,000 after the business’ president pled guilty to stealing retail sales tax intended for public services.
Khaled E. Saad, president of American Auto & Body, LLC, of Mount Vernon, entered a guilty plea on behalf of the corporation to first-degree theft. Saad had been accused of collecting retail sales tax and not turning it over to the state.
The court ordered the corporation to pay $240,000 to the Washington State Department of Revenue and $500 for a victim penalty assessment. The Revenue Department has received that money from the corporation.
The $240,000 judgment included assessed sales taxes the corporation did not remit, and penalties and interest.
Based on a referral from the state attorney general’s office, auditors for the Washington State Department of Revenue reviewed American Auto & Body’s records spanning March 1, 2013 through Dec. 31, 2015. During that time, records show Saad was vastly underreporting his corporation’s income and had not remitted to the state at least $145,512 in retail sales tax.

Last modified on Monday, 17 July 2017 19:49
Rate this item
(0 votes)