NetJets Sued For Back Taxes | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.23.25

Airborne-NextGen-06.24.25

AirborneUnlimited-06.25.25

Airborne-AffordableFlyers-06.26.25

AirborneUnlimited-06.27.25

Tue, Mar 13, 2012

NetJets Sued For Back Taxes

IRS Says Company Owned By Warren Buffett Owes Over $366 Million

NetJets, a fractional jet company owned by Warren Buffett's Berkshire Hathaway corporation, is reportedly being sued by the IRS for $366 million in back taxes.

Bloomberg News reports that the dustup began when NetJets petitioned the IRS for refunds it says were incorrectly collected as ticket taxes not owed by private individuals which maintain their own aircraft. NetJets contends that the aircraft it manages are owned by those who use them, and NetJet's fees are for management of the airplanes.

But the IRS counter-sued in a federal court in Columbus, OH, rejecting NetJet's claims and telling each of the company's four divisions they need to pony up a total of #366 in unpaid taxes, including $301.1 million from NetJets Aviation Inc.

The Blaze reports that last August Berkshire Hathaway was sued for back taxes. Seems Mr. Buffett may come to rue the day he told Congress that he pays less in income taxes than his secretary.

FMI: www.netjets.com

Advertisement

More News

ANN's Daily Aero-Linx (06.29.25)

Aero Linx: Transport Canada We are a federal institution, leading the Transport Canada portfolio and working with our partners. Transport Canada is responsible for transportation p>[...]

ANN's Daily Aero-Term (06.29.25): Gross Navigation Error (GNE)

Gross Navigation Error (GNE) A lateral deviation from a cleared track, normally in excess of 25 Nautical Miles (NM). More stringent standards (for example, 10NM in some parts of th>[...]

Classic Aero-TV: Anticipating Futurespace - Blue Origin Visits Airventure 2017

From AirVenture 2017 (YouTube Edition): Flight-Proven Booster On Display At AirVenture… EAA AirVenture Oshkosh is known primarily as a celebration of experimental and amateu>[...]

NTSB Final Report: Cirrus SR22

Aircraft Parachute System (CAPS) Was Deployed About 293 Ft Above Ground Level, Which Was Too Low To Allow For Full Deployment Of The Parachute System Analysis: The day before the a>[...]

Airborne Affordable Flyers 06.26.25: PA18 Upgrades, ‘Delta Force’, Rhinebeck

Also: 48th Annual Air Race Classic, Hot Air Balloon Fire, FAA v Banning 100LL, Complete Remote Pilot The news Piper PA-18 Super Cub owners have been waiting for has finally arrived>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC