Seizures for tax debt happen everywhere. In Colorado, with more than 11,000 eating and drinking establishments in Colorado alone, and tight budgets to contend with, state and local tax (SALT) authorities are actively trolling for potentially risky tax practices, particularly around sales and wages taxes.
Seizures are fairly common outcomes, particularly when restaurateurs don’t come clean on their own. According to the following news reports:
- A-Town Pizza, a two-store chain, shut down for nonpayment of sales and occupational privilege taxes (9News.com)
- Longmont’s Jacks cafe seized for nonpayment of sales taxes (Times-Call)
- Schmidts Bakery shut down (Reporter Herald)
- D’Vine Bistro shut down and seized for unpaid taxes and wages amounting to $2,763 (Coloradoan)
Paying up promptly by filing and negotiating for payment of back taxes can, in some instances, reopen the doors. The Lodge Sasquatch Kitchen in Old Town Fort Collins was back in business a day after the state closed it?s doors for failure to pay more than $24,000 in sales taxes (Visalia Times Delta).
Clean up your SALT act
Your business is at risk. We’ve been talking to business owners for years about the threat of seizure and sale as a reminder of the importance of being current on taxes.
If you?re behind, give us a call. The taxing authorities are more willing to deal when you?re willing to admit you’ve fallen behind.
Next steps may be as simple as filing or may require more intense negotiations to settle delinquent taxes through a Voluntary Disclosure Agreement. Give us a call if you need help.
Let’s talk tax
Judy Vorndran can be reached at jvorndran@taxops.com or 720.227.0093. Follow Judy on LinkedIn.
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