Camarillo businessman sentenced for state income tax evasion
By Anonymous — Wednesday, June 30th, 2010
District Attorney Gregory D. Totten announced today that Charles Smith aka “Chuck Smith” (DOB 11/17/1949) of Camarillo was sentenced to 180 days in the Ventura County jail and placed on felony probation for three years after pleading guilty to four counts of felony tax evasion. The case against Smith resulted from an investigation by the California Franchise Tax Board (FTB). The FTB's investigation revealed Smith and his corporation, C&J T-28 Parts Sales Inc. (located at the Camarillo Airport ), failed to file state tax returns from 2000 to 2008. C&J T-28 Parts Sales Inc. failed to report over $10 million of earned income, and Smith failed to report over $1.8 million in personal earned income. Smith avoided a lengthy prison sentence by filing his delinquent personal and corporate state tax returns, and paying the FTB $313,764 in restitution, prior to his sentencing hearing. The $313,764 consisted of back taxes, interest, penalty assessments, and the costs of the FTB's investigation. Smith also had to pay the Ventura County District Attorney's Office $4,419 for the costs of prosecuting the case. According the FTB, the failure to file income tax returns is part of the $6.5 billion tax gap California faces each year. The tax gap is defined as the difference between the tax that is owed and the tax that is actually paid. |