Jonathan Stempel
Reuters
via Business Insider
3/10/2012
NetJets Inc, a private jet-sharing company owned by Warren Buffett’s Berkshire Hathaway was sued for $366.3 million by the government to recover unpaid taxes, four months after NetJets sued the government for nearly twice as much.
Four NetJets units have “failed, neglected or refused” to pay excise taxes and related penalties between 2003 and 2009, according to the countersuit filed Thursday with the U.S. District Court in Columbus, Ohio, where NetJets is based.
NetJets Aviation Inc owes $302.1 million, NetJets International Inc owes $53 million, Executive Jet management Inc owes $10 million and NetJets Large Aircraft Inc owes $1.19 million, according to the countersuit.
The article continues at Business Insider.
Related: US Government Countersues Warren Buffett Company Over Unpaid Taxes.
There’s an awful lot of legal wrangling and arm twisting going on here considering this is a company owned by a man who spends a great deal of time begging the government to make him pay more in taxes…
Read the whole thing.
