HORRY COUNTY, S.C. (WBTW) — An Horry County convenience store owner is accused of failing to report taxable sales for years, according to the South Carolina Department of Revenue.
Prem Kumar Akkineni, 36, of Myrtle Beach, was arrested Friday and charged with four counts of tax evasion, according to the SCDOR. Akkineni operated Akkineni LLC doing business as Short Stop.
Akkineni allegedly failed to report taxable sales of more than $2 million for tax years 2018 to 2021, according to SCDOR. He’s accused of evading at least $166,425 in state sales tax.
For tax year 2018, Akkineni reported taxable sales at $568,103 but sales were at least $1,126,175, according to arrest warrants. For 2019, taxable income was reported as $599,704 but sales were at least $1,261,263.
In tax year 2020, he reported taxable income as $600,550 but sales were at least $1,189,658, according to the warrants. For 2021, sales were reported as $1,033,539 but were really at least $1,305,105.
Akkineni is held in J. Reuben Long Detention Center without bond as of Friday afternoon, according to online booking records.
If convicted, he faces up to five years in prison and/or a fine of $10,000 plus prosecution costs for each count, according to SCDOR.