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

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Warren Buffett’s NetJets Sued by U.S. for Unpaid Taxes
By Mark Hirschey (Work of Mark Hirschey) [CC BY-SA 2.0], via Wikimedia Commons

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

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