SPRINGFIELD, Mo. (AP) _ A southwest Missouri businessman pleads guilty to failing to pay up to $7 million in federal income and employment taxes.
Kyle Jon Thompson owns Branson Trailer Manufacturing in Ozark. He faces up to five years in federal prison after pleading guilty Tuesday in U.S. District Court in Springfield.
The 46-year-old business owner admitted failing to file federal income tax returns for his company or for himself from 1997 to 2006. His taxable income in 2006 was approximately $2.8 million.
Prosecutors said Thompson used various methods to conceal income, including paying his employees in cash. He also failed to pay taxes on more than a dozen vehicles, ranging from limousines to a Model-T Ford.
Thompson's plea agreement requires him to pay all taxes, interest and penalties before sentencing.