USTA Home > News Home > Hinsdale OTB dealt setback

Hinsdale OTB dealt setback
Friday, April 25, 2014 - by Chip Ainsworth

       Decrease Text Size    Increase Text Size   Print   Email

One week after thinking he’d been issued a gaming license to operate an off track betting parlor in Hinsdale, New Hampshire, Bill Faucher learned his application had been denied. 

 

“The racing commission told me they had approved my license. What I didn’t hear them say was that the attorney general must also approve. That’s how that went.”

           

Faucher was called to New Hampshire Attorney General Joseph Foster’s office on Wednesday and questioned by two private accountants that had been hired by the state to pore over Faucher’s tax returns.

           

What they found was that Faucher had mailed his contract employees the wrong 1099 forms. “I’ve got individuals driving starting cars at harness tracks,” he explained. “They made over $600 and so I mailed them a 1099-R but was supposed to mail a 1099-MISC.”

           

A 1099-R is used to report money received from pensions, annuities and the like, while the 1099-MISC is to report money earned by individuals who provided services to an individual or company.

           

“There were other tax issues but those I can’t tell you. I don’t understand income taxes. I’ve always had someone else do that for me and she was in Colorado. Next time we’ll go in prepared.”

           

Faucher said he was on the hot seat for three-and-a-half hours. “One question after another. It was just like going to court.”

           

Despite the setback, Faucher said he remained confident he’ll get his gaming license. “I’ll find out what’s gotta be done and then we’ll go for it.”

           

 

 


Related Articles :


Search Articles: