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Camarillo Pilot Pleads Guilty to State Income Tax Evasion

Sacramento – A Camarillo pilot and businessman pleaded guilty to four counts of income tax evasion, the Franchise Tax Board (FTB) announced.

Charles Samuel Smith, 60, failed to file his 2000 - 2008 state income tax returns, did not report more than $1.8 million in income earned during these years, and owes more than $155,000 in personal income taxes.

Smith’s corporation, C&J T-28 Parts Sales, Inc. also failed to file state corporate returns for 2000 - 2008, did not report over $10 million in income, and owes more than $21,000 in unpaid corporate taxes.

Hearing Set on Apportionment Regulation for Sales of Other Than Tangible Personal Property

A hearing has been scheduled for January 13, 2010, to review proposed amendments to the existing California corporation franchise and income tax regulation governing the apportionment formula's sales factor rules for sales of other than tangible personal property.

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