Padwell Inc. former owner of the Placerville Speedway, owes more than $1.1 million in back taxes
Roseville Press Tribune, April 20, 2012
Padwell Inc. once owned and operated the Silver Dollar Speedway in Chico and the Placerville Speedway in Placerville.
Also on the list is former real estate mogul Abe Alizadeh, who owes more than $400,000 in personal income tax to the state.
Kobra Alizadeh also made the list, owing more than $350,000 in personal taxes.
Alizadeh once owned and operated 70 Jack-in-the-Box stores throughout the region and several T.G.I. Friday’s locations, operating as Kobra Properties, before filing bankruptcy in 2009.
A new law — AB 1424 — requires the Franchise Tax Board to post a biannual list of the 500-largest state income tax debtors who owe more than $100,000.
Provisions of the law include publishing the names and titles of corporate officers of listed corporations, publishing professional license information and returning noncompliant taxpayers to the list.
Beginning in July, those on the list also risk losing their driver’s or professional business licenses.
In November, the FTB mailed letters to individuals and businesses who could qualify to be listed if they do not resolve their outstanding liabilities, according to a statement.
So far this year, the FTB says it has collected more than $25 million in payments from individuals and businesses wanting to absolve tax debt and prevent their names from being publicly posted.
The FTB states that nearly 90 percent of taxpayers pay the taxes they owe.
Those who don’t pay contribute to California’s tax gap — the difference between taxes owed to the state and taxes actually paid— which is currently estimated to be $10 billion.
Since the FTB began implementing the program in 2007, more than $118 million in tax revenue has been recovered, according to a statement.
Taxpayers on the Top 500 list will be removed once the tax is paid or the taxpayer agrees to make payments under an approved installment agreement or offer in compromise, the FTB states.