Tax & Accounting Blog

Illinois Targets Gas Stations That Cheat on Sales Taxes

Indirect Tax, ONESOURCE, Sales and Use Tax October 17, 2012

Illinois has been investigating gas station owners who withhold sales tax revenue for multiple-years. These efforts are beginning to pay big dividends for the state.  So far, the state has collected $72 million dollars in additional sales tax revenues, as a result of this project. They are currently charging 35 different gas station owners with sales tax evasion. Part of this investigation has included revising laws applying to this type of tax evasion.  The statute of limitations has been updated to 5 years from 3 and prison terms have been increased for those convicted of sales tax evasion.

Read More:

 http://chicago.cbslocal.com/2012/10/10/state-cracking-down-on-gas-stations-that-cheat-on-sales-taxes/