Camarillo Businessman Sentenced for State Income Tax Evasion
A Camarillo businessman was sentenced to 180 days in jail and paid $313,764 in restitution after previously pleading guilty to four felony counts of state income tax evasion.
Charles Samuel Smith, 60, pleaded guilty in February 2010. Smith is president of C&J T-28 Parts Sales, Inc., which sells aircraft parts. According to court documents, Smith failed to report more than $1.8 million in personal income during the years 2000 – 2008 and the corporation failed to report more than $10.1 million in income during these same years. Smith also failed to file his 2002 – 2005 state income tax returns.
The restitution represents the unpaid personal and corporate tax, penalties, interest, and the cost of the investigation.
The failure to report income 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 paid.
Ventura County Superior Court Judge Bruce A. Young handed down the sentence in Department 13 of the Ventura County Superior Court. Senior Attorney Kevin Drescher with the Ventura County District Attorney’s Office prosecuted the case.
Smith is ordered to turn himself in August 31, 2010, to serve his sentence.