SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics of Energy

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: miraje2/14/2016 12:53:31 PM
  Read Replies (1) of 83793
 
How the IRS (the most filthy federal bureaucracy, with the exception of the EPA) killed a fledgling business..


Bright prospects for growing business in Reno crushed by IRS rulings

By Sean Whaley
Las Vegas Review-Journal Capital Bureau

RENO — Inventor and entrepreneur Peter Gunnerman thought his business prospects were looking pretty good back in 2013.

His new GDiesel fuel, created with a patented low-pressure, low-temperature process to make it burn cleaner than regular or biodiesel by using natural gas to change its molecular structure, was selling well with no issues.

He and his father, Rudolph, invested $15 million of the family's money to build a large-scale plant to produce GDiesel in the Tahoe-Reno Industrial Center under the company name of Advanced Refining Concepts. He was selling the fuel locally and trucking it to Southern Nevada, where Clark County was using it in its fleet including airport shuttles at McCarran International Airport.

But a Kafkaesque series of conflicting and inconsistent Internal Revenue Service rulings undermined his fledgling business. Today, the production plant is shuttered, 28 jobs have been lost and plans to expand the business to Las Vegas and beyond have stalled...

Read the whole article here..

reviewjournal.com
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext