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Buffett’s NetJets Countersued by U.S. for Unpaid Taxes
NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), was countersued by the U.S. over $366 million in taxes and penalties. Claiming the federal Internal Revenue Service wrongfully assessed a so-called ticket tax -- an excise tax on payments made in exchange for air transportation -- to private aircraft owners maintaining their own planes, the Columbus, Ohio-based company demanded refunds and abatements. (www.businessweek.com) さらに...Sort type: [Top] [Newest]
Obama will make an executive decision and take care of his friend and supporter Warren Buffett. I bet the liberal mainstream press doesn't report this.
You are probably right there. I still wouldn't be surprised if the tax gets dumped in the aircraft owners hands. I don't have a clue what all is in the fractional ownership contract, but I bet their is a catch all line about taxes and that the owners are responsible.
The article is a bit thin on specifics. Is the assessment part of the tax code or is this a case where the IRS in interpreting the code. There is a difference. If it is part of the code, Congress is the problem or solution. Interpretation is for the courts. Either way, or who is responsible, cost of fractional owned transportation is going up. Now does that mean that those customers will be in line at the Airline counters?
I doubt it. Most of the owners I flew wouldn't go back to the airlines. Many still use both fractional and airline, but the preference was always fractional.
I believe all this will get ironed out in the short term.
I believe all this will get ironed out in the short term.
How did this possibly happen? Buffett is constantly saying he doesn't pay enough taxes, and his friend Obama should raise the rates.I guess actions speak louder than words. Kinda makes you wonder how Buffett and obama are such good buddies ,as Obama constantly trashes the "fat cats and their corporate jets" as he travels the world in a private jet at taxpayer expense.
Warren brags that he don't pay enough taxes. The IRS listened. Thanks Warren!