Warren Buffett’s NetJets Sued by U.S. for Unpaid Taxes

Warren Buffett’s NetJets Sued by U.S. for Unpaid Taxes

NetJets Inc., the private-plane company owned by Warren Buffett’s Berkshire Hathaway Inc. , 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.

http://www.bloomberg.com/news/2012-03-09/buffett-s-netjets-is-countersued-by-u-s-over-unpaid-taxes.html

Coho Capital 2Q20 Commentary: Podcasts, The New Talk Radio

Coho Capital LogoCoho Capital commentary for the second quarter ended June 30, 2020. Q2 2020 hedge fund letters, conferences and more Dear Partners, Coho Capital returned 46.6% during the first half of the year compared to a loss of 3.1% in the S&P 500. Many of our holdings, such as Netflix, Amazon, and Spotify, were perceived beneficiaries Read More