ALBANY – The owner of two masonry supply yards was arrested Wednesday on felony sales tax charges for collecting over $1 million in state and local sales taxes from clients, but failed to report or remit the money to the state and Putnam County over a five year period.

William Dring, 55, of 28 Bonniewood Drive in Mahopac, and his former company, Taconic Stone, Inc., face charges of felony grand larceny in the first degree, for not paying the money between March 2005 and February 2010.  Dring, and his present company, Hudson Valley Stone Corp., were also charged with felony second-degree grand larceny for having collected, but not remitted, more than $82,000 in sales taxes from customers between March and August 2010.

Dring and Taconic Stone face 16 counts of offering a false instrument for filing in the first degree, also a felony, and four counts of filing a fraudulent return, report, statement or other documents for sales tax, a misdemeanor.

If convicted, he faces up to 25 years in state prison.