Larry Lester Larson of Tucson, AZ was sentenced to one month of prison and fined $15,000 for his conviction of tax evasion. Prior to his sentencing, Larson made full restitution to the IRS in the amount of $322,936.23.
Larson was the owner of State Industrial Supply Corporation, which distributes machine parts. During the tax years 2006 and 2009, Larson paid and claimed personal expenses as business expenses on his Federal corporate income tax returns.
The personal expenses falsely claimed as business expenses included elective surgery, dental surgery, garage floor coating, a car lift, pool service and utilities for his personal residence, the purchase of jewelry, and an ATV, remodeling expenses for his son’s personal residence, payments for portions of a family member’s wedding expense, a personal loan that was paid back but falsely claimed as bad debt and a Hawaiian vacation.