Buffett’s NetJets Countersued by for Unpaid Taxes
By
Andrew Harris
-
Mar 9, 2012 2:01 PM ET
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.
No comments:
Post a Comment