SALT Report 3140 –The California State Board of Equalization (BOE) has provided an explanation of their perspective on what constitutes the underground economy. By explanation and an embedded YouTube video the BOE expresses their encouragement to the taxpaying public to avoid engaging in business with anyone who is attempting to gain an unfair and illegal advantage to those who are complying with California’s tax laws.
The website states: “Frequently, businesses that deal in cash and use other schemes to conceal their activities, identities, and their tax liabilities are working in the underground economy.”
California taxpayers are encouraged to “Invest in the Real Deal” and not to “Buy Into the Underground Economy.”
For Further Information: