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NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/B), was countersued by the U.S. over $366 million in taxes and penalties.
NetJets in November sued the U.S., saying the federal government had wrongly imposed taxes, interest and penalties totaling more than $642.7 million.
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.
The federal government, in a revised answer and countersuit filed yesterday in federal court in Columbus, rejected NetJets’ claims and alleged that four of the company’s units owe unpaid taxes and penalties.
NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed.
NetJets had no immediate comment on the countersuit.
I thought Buffett was all for paying taxes he owed?
He has the same position as every single American: Pay only the tax you can't legally avoid.
So Warren Buffet is a terrible person because a company that is owned by his company disputes the amount that the government says is owned and is taking completely legal measures to ensure that they don't pay taxes that they don't owe?
Ya'll need another hobby.
He's hardly a terrible person. I actually like the guy. If he wanted to become a national spokesperson for higher taxes perhaps he should have settled the lawsuit over his unpaid corporate taxes first. I'm sure he thinks the government could use the extra $300 million considering his lamentations about the budget deficit.
So Warren Buffet is a terrible person because a company that is owned by his companyis disputing the amount that the government says is owed?
Ya'll need another hobby.
So Warren Buffet is a terrible person because a company that is owned by his companyis disputing the amount that the government says is owed?
Ya'll need another hobby.
Buffett
Refusing the pay taxes on private corporate jets? Man, what a 1% thing to do. Stay classy, Buffet.
C'mon liberals want YOU to pay taxes, not themselves.
Um, the government doesn't sue your company because you, "dispute", your tax bill. There's a such-a-thing as tax court and that's where you go to dispute your tax bill. :lamo
The government is sueing his company because...*gasp*...a corporation isn't a person and they can't put a corporation in prison for tax evasion.
This is just another example of Leftist hypocrisy.
Lol... you mean... I've been willingly paying taxes an advocating for higher taxation for myself for no reason? Damn it people! This is why we have the Commie-Liberal-Socialist intercom system! I'd like to get the memos for stuff like this!
Lol... you mean... I've been willingly paying taxes an advocating for higher taxation for myself for no reason? Damn it people! This is why we have the Commie-Liberal-Socialist intercom system! I'd like to get the memos for stuff like this!
The US government isn't sueing NetJets, they are counter sueing. The fact you couldn't get that right makes me doubt your knowledge of the relevant tax law.
Personally I don't know anything about this kind of tax law either, and I couldn't say what my opinion is on how the quote "ticket tax -- an excise tax on payments made in exchange for air transportation" affects the following units of NetJets in the follow amounts, "NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed."
And frankly no one here has the knowledge to make an informed opinion and therefore any opinion making being done is a clearly biased and partisan, and the resulting opinion is obviously one formed of that bias and partisanship and not grounded in fact whatsoever.
The only way they would owe a ticket tax is if they actually sold fares, such as American Airlines. Since its their jets, and they aren't charging anyone to ride them, how can they be selling tickets?
That would be akin to making every car owner pay the rental car excise tax everytime they take their car out of the garage.
The only way they would owe a ticket tax is if they actually sold fares, such as American Airlines. Since its their jets, and they aren't charging anyone to ride them, how can they be selling tickets?
That would be akin to making every car owner pay the rental car excise tax everytime they take their car out of the garage.
Conservatives sure show their hypocrisy here. Buffet is one of those fabled "job creators" but they all hate on him because he leans a different way.
I am surprised you don't all light candles, sing songs, and sacrifice a lamb every time he and his kind are mentioned.
Yea conservatives are the only hypocrites......riiiiight. (eyes rolling)
If you don't feed it, it will go away.
"Refusing the pay taxes on private corporate jets? Man, what a 1% thing to do. Stay classy, Buffet."
Indeed.
Buffett
Refusing the pay taxes on private corporate jets? Man, what a 1% thing to do. Stay classy, Buffet.
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