The University of Central Oklahoma students founded a party business in Edmond, Okla., called Kegheadz, and bragged on its MySpace.com page about "over a billion served," "biggest party in the state" and "biggest party in the country," The Oklahoman reported. And that caught the interest of state tax officials.

Kegheadz founder Julius Baroi says the loosely organized business netted only about $1,700, but has been hit with a $320,000 tax bill.

"This is crazy," Baroi told the newspaper. "The (Oklahoma) Tax Commission claims we owe more than $300,000. We don't have enough money between us to pay $6,000 to hire an attorney. They won't listen to us."

Paula Ross, spokeswoman for the commission, told the newspaper she couldn't comment on an individual taxpayer's case.