Printer Friendly

TRAVEL PORTS OF AMERICA REPORTS BUSINESS SURGE AS TAX CHEATS ARE DRIVEN FROM THEIR INDUSTRY

 TRAVEL PORTS OF AMERICA REPORTS BUSINESS SURGE
 AS TAX CHEATS ARE DRIVEN FROM THEIR INDUSTRY
 ROCHESTER, N.Y., Oct. 27 /PRNewswire/ -- Travel Ports of America (NASDAQ: TPOA) President, John Holahan, reported today at the company's annual shareholders meeting that fuel volume in company operated truckstops in New York and Pennsylvania increased significantly as a result of some competitive truckstops being closed by a sweep of IRS, State Revenue and Federal Immigration Agents last week.
 Holahan said that 300 law enforcement agents raided 30-40 truckstops in Ohio, Pennsylvania, Virginia and New Jersey and confiscated records, arrested personnel and padlocked facilities as a result of a two year investigation by the authorities into fuel tax cheating by certain truckstop operators.
 Holahan pointed out that he and Philip Saunders, Travel Port chairman, have been urging State and Federal Authorities to clean up the illegal truckstop operators for almost 3 years. Travel Port and other legitimate truckstop operators have been hit hard by tax cheaters who post diesel fuel at retail prices that are often below cost.
 Holahan estimated that 25 percent of Travel Ports' diesel gallonage in the states of Pennsylvania, New Jersey and New York have been lost to illegal truckstop operations.
 "We look forward to a continuation of the campaign that was instituted by the authorities last week and to the removal of tax cheaters from our industry. We feel that our volumes will improve and that tax collections to the State and Federal Coffers will increase significantly once these illegal operators are driven from our business," Holahan said.
 -0- 10/27/92
 /CONTACT: John Holahan or William Burslem, both of Travel Ports of America, 716-272-1810/
 (TPOA) CO: Travel Ports of America ST: New York IN: TRN SU:


BM -- CL020 -- 5426 10/27/92 12:59 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 27, 1992
Words:296
Previous Article:FEDERAL CIVIL RIGHTS PANEL RELEASES REPORT ON MINORITY ACCESS TO NURSING HOMES, PLANS CONFERENCE
Next Article:GLOBAL ENVIRONMENTAL CORP. ANNOUNCES CONTRACT
Topics:


Related Articles
TRAVEL PORTS OF AMERICA SEES PROFIT GAIN FOR FISCAL 1992
TRAVEL PORTS OF AMERICA REPORTS BUSINESS SURGE AS TAX CHEATS ARE DRIVEN FROM THEIR INDUSTRY
TRAVEL PORTS EARNINGS UP IN SECOND QUARTER OCTOBER CRACKDOWN ON TAX CHEATS CITED
TRAVEL PORTS EARNINGS UP IN THIRD QUARTER
TRAVEL PORTS OF AMERICA, INC.'S NET INCOME DOUBLED IN SECOND QUARTER
TRAVEL PORTS ACQUIRES NEW HAMPSHIRE TRUCK STOP
TRAVEL PORTS REPORTS INCREASED REVENUE AND EARNINGS
TRAVEL PORTS REPORTS RECORD EARNINGS FOR THE FIRST QUARTER

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters