SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Jim McMannis who wrote (76321)10/20/1999 5:59:00 PM
From: Bill Jackson  Read Replies (1) of 1571104
 
Jim, Sales tax departments are like snakes, the teeth point inwards. A friend of mine has a MO business in NY State and he is scrupulous about his sales tax collections. Unfortuneately he has about 10% of New York State sales go to the Armed Forces Post Office (AFPO)for foreign shipments in New York and they keep coming after those sales even though they go overseas and are truly exempt. So he got audited three years in a row and his accountant told him to add $20 to two or three sales tax payments and when they audited him he would 'discover' these overpayments and ask for a refund. His system was all checks, VISA, AMEX and money orders so every penny was tracked and he never had any sales tax payable. After he got the refunds he was left alone for 12 years. Apparently they expect the auditors to find a certain % of non compliance and expect each audit to generate significant funds. They lost money on him as they never got any extra taxes, but gave him taxes back. He did this because an audit is a huge waste of time.
One of my competitors reported me for custome fraud(there was none) and gave me an audit. They found nothing as there was nothing to find and they spent about 300 hours. All my goods came D/P and I paid the duty in cash and did the brokerage myself. Over $10 million in imports and nothing to pay and no penalties. As they left I told them I had found more documents....they said "the last thing we want to see from you, Mr Jackson, is more paper" So all their time was wasted.

Bill
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News