Democratic congressional candidate Josh Welle is denying a published report that his company owes $130,424 in delinquent taxes, saying that all taxes have been paid and that all that existed were paperwork problems.
MoreMonmouthMusings.net reported on Wednesday that Welle’s company, Seven Pacific Inc., owed the money and that the candidate had not reported the debt on his personal financial disclosure statement. The digital news site, which has an extensive following in Monmouth and Ocean counties, reported today that the company is in good standing and that there was a zero balance.
The Welle campaign told the New Jersey Globe that a third party had failed to file the proper dissolution forms.
“Josh and his partners ceased business operations in the summer of 2017. The company’s external business agent, who was brought on board to assist in the dissolution of the business, neglected to file the necessary paperwork in for the state. Appropriate filings were submitted to the federal government,” said Aubrey Fink, a spokesperson for Welle “Because state dissolution documents were not filed, the company continued to accumulate fees as if they were still operational. Since this information has been brought to light, all dissolution paperwork has been filed with the state government. Outstanding administration franchise tax fees have been settled, approximately $1,000, which includes 2017 and 2018. All obligations are settled.”
Welle has raised $1.3 million in his campaign to unseat Christopher Smith, a Republican congressman first elected 38 years ago. New Jersey’s 4th district is the most Republican seat in the state.