New York Attorney General Sues B&H Photo to Pay Millions in Sales Tax

 

 

November 15, 2019

Andrew Campbell 

 

New York Attorney General Letitia James filed a lawsuit in Manhattan Supreme Court against B&H Photo Video, the famous online e-commerce retailer in photo/video digital cameras, photography, and camcorders, including popular brands in Canon, Panasonic, and Sony, on November 14.

 

B&H, founded in 1973, has a retail store on Ninth Avenue and is the US’s largest computers, electronics, photography and video equipment retailer. It also has operated successfully in business for almost 50 years.

 

The State Attorney General accused B&H offered instant rebates to customers but failed to pay more than US$7 million in sales taxes on the discount between 2006 and 2019. According to the suit, B&H was responsible for paying sales tax on the entire receipt of the items sold at an instant discount. Instead, B&H declared taxable amounts excluding vendor-sponsored reimbursements for instant savings and deliberately paid fewer sales taxes.

 

The State Attorney General alleged B&H received more than US$ 67 million in instant rebate reimbursements over 13 years. Prosecutors charged B&H ought to pay New York state sales tax on the full, undiscounted price of the product and estimated B&H owed at least US$ 7 million in sales tax. Prosecutors are suing B&H to pay damages and penalties under New York tax law.

 

B&H denied any wrongdoing and was outrageous to these claims being without merit. B&H CEO Menashe Horowitz wrote in a letter to his employees and mentioned to defend in court against these absurd allegations.

 

 

Photo:Webshot.

source: 
Global People Daily News