Pleads Guilty To Stealing More Than $1 Million In Sales Tax
IMMEDIATE, Friday
December 09, 2011
The New York State Department of Taxation and Finance today announced that William Dring, the owner of two masonry supply yards, pleaded guilty to stealing more than $1 million dollars in sales tax.
Dring was the owner and president of Taconic Stone, Inc., also known as Putnam Stone and Mason Supply, Inc., and is the owner of Hudson Valley Stone Corp. All of the businesses operated out of 301 Route 52, Carmel, N.Y., and 119 Route 6, Mahopac, N.Y.
William Dring, 54, of 28 Bonniewood Drive, Mahopac, N.Y., pleaded guilty in Putnam County Court to Grand Larceny in the Third Degree, a class D felony. His company, Taconic Stone, Inc., pleaded guilty to Grand Larceny in the First Degree, a class B felony. The defendants admitted collecting over $1.1 million in state and local sales taxes from clients of Taconic Stone, Inc. and failing to report or remit the taxes to New York State over a five year period.
Required to pay restitution
Following his plea, Dring was incarcerated at Putnam County Jail. The defendants are to appear next in Putnam County Court on February 1, 2012 for sentencing. William Dring faces up to seven years in prison on the charges for his guilty plea. As part of the plea agreement, Dring will be required to pay restitution for all of the stolen sales tax.
The New York State Tax Department offers programs to taxpayers who may be unable to satisfy their tax obligations. The Department offers the Voluntary Disclosure and Compliance Program to enable delinquent taxpayers to become compliant without facing criminal prosecution or civil penalty.
Putnam County District Attorney Adam Levy and Chief Assistant District Attorney Christopher York were the prosecutors on this case.