MILWAUKEE, WI (WTAQ) - The retired president of a chemical company in Waukesha County has been convicted of tax evasion. 68-year-old James Stuart faces up to 15 years in prison, after a federal court jury in Milwaukee found him guilty on three counts of evading taxes. Prosecutors said Stuart reported an income of $631 in 2005, and did not file tax returns for ’06 and ’07. But the IRS said he actually made over $900,000 during that period – and he owed around $200,000 in federal taxes. His attorney said Stuart did not intend to commit the crime he was charged with – evading taxes – because he honestly felt the tax laws didn’t apply to him. A legal brief said Stuart had a “frank difference of opinion” with the IRS – and the tax laws are not meant to punish people in cases like that. Officials said Stuart also filed amended returns to try to get refunds from previous years – claimed he was a consultant instead of an employee at his New Age Chemical firm – and turned over the title of an $80,000 Corvette to his daughter to try and avoid taxes. His former company said Stuart retired a couple years ago.