2008 News Releases
For Immediate Release: February 8, 2008
HAMILTON COUNTY BUSINESS OWNER SENTENCED ON SALES TAX EVASION CHARGES
NASHVILLE, Tenn. -The Department of Revenue's Special Investigations Section conducted the investigation that led to the indictment and subsequent nolo contendre plea of Charles E. Peacock to nine counts of sales tax evasion charges yesterday. On Feb. 7, 2008, Peacock, owner of C & B Package Store located in Chattanooga, Tenn., was granted judicial diversion and was sentenced to six years of unsupervised probation.
Judge Barry Steelman ordered Peacock to pay $19,110.49 in restitution to the state for unpaid sales tax. According to the indictment, Peacock failed to declare taxable sales of $214,728.32 and failed to remit $19,110.49 in sales tax collected at his business located at 4251 Shallowford Road, Chattanooga, Tenn. from January through December 2002 and January through July 2004.
"Tennessee's tax structure depends on taxpayers voluntarily complying with the laws," said Commissioner Reagan Farr. "Taxpayers who collect but intentionally do not remit sales tax breach the public trust. This arrest underscores our commitment to collecting all taxes due the State of Tennessee."
This case was pursued criminally by the department in cooperation with Hamilton County District Attorney General Bill Cox's Office. Citizens who suspect violations of Tennessee's revenue laws should call the toll-free tax fraud hot line at (800) FRAUDTX (372-8389).
The Department of Revenue is responsible for the administration of state tax laws and motor vehicle title and registration laws established by the legislature and the collection of taxes and fees associated with those laws. The Department of Revenue collects approximately 92 percent of total state tax revenue. During the 2006-2007 fiscal year, the department collected $11 billion in state taxes and fees. In addition to collecting state taxes, $1.9 billion of local sales tax was collected by the department for local governments during the 2006-2007 fiscal year. Besides collecting taxes, the department enforces the revenue laws fairly and impartially in an effort to encourage voluntary taxpayer compliance. The department also apportions revenue collections for distribution to the various state funds and local units of government. To learn more about the department, log on to www.TN.gov/revenue.
Related news: May 2, 2007 - Revenue Investigation Leads to Arrest of Chattanooga Businessman on Sales Tax Evasion Charges (http://www.TN.gov/revenue/newsreleases/2007/peacock.htm)
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