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Thread: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Rhapsody1447 View Post
    Buffett

    Refusing the pay taxes on private corporate jets? Man, what a 1% thing to do. Stay classy, Buffet.
    C'mon liberals want YOU to pay taxes, not themselves.
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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Prof. Peabody View Post
    C'mon liberals want YOU to pay taxes, not themselves.
    Lol... you mean... I've been willingly paying taxes an advocating for higher taxation for myself for no reason? Damn it people! This is why we have the Commie-Liberal-Socialist intercom system! I'd like to get the memos for stuff like this!
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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by apdst View Post
    Um, the government doesn't sue your company because you, "dispute", your tax bill. There's a such-a-thing as tax court and that's where you go to dispute your tax bill.

    The government is sueing his company because...*gasp*...a corporation isn't a person and they can't put a corporation in prison for tax evasion.

    This is just another example of Leftist hypocrisy.
    The US government isn't sueing NetJets, they are counter sueing. The fact you couldn't get that right makes me doubt your knowledge of the relevant tax law.

    Personally I don't know anything about this kind of tax law either, and I couldn't say what my opinion is on how the quote "ticket tax -- an excise tax on payments made in exchange for air transportation" affects the following units of NetJets in the follow amounts, "NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed."

    And frankly no one here has the knowledge to make an informed opinion and therefore any opinion making being done is a clearly biased and partisan, and the resulting opinion is obviously one formed of that bias and partisanship and not grounded in fact whatsoever.

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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Hatuey View Post
    Lol... you mean... I've been willingly paying taxes an advocating for higher taxation for myself for no reason? Damn it people! This is why we have the Commie-Liberal-Socialist intercom system! I'd like to get the memos for stuff like this!
    Sorry, you should have followed the lead of Tiny Tim Geithner, Tom Daschle, Chuckles Rangel and way to many more to list here
    "Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence." - John Adams

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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Rhapsody1447 View Post
    Buffett

    Refusing the pay taxes on private corporate jets? Man, what a 1% thing to do. Stay classy, Buffet.
    Super rich person not paying taxes!? Isn't this normal?
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Hatuey View Post
    Lol... you mean... I've been willingly paying taxes an advocating for higher taxation for myself for no reason? Damn it people! This is why we have the Commie-Liberal-Socialist intercom system! I'd like to get the memos for stuff like this!
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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Conservatives sure show their hypocrisy here. Buffet is one of those fabled "job creators" but they all hate on him because he leans a different way.

    I am surprised you don't all light candles, sing songs, and sacrifice a lamb every time he and his kind are mentioned.
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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Wiseone View Post
    The US government isn't sueing NetJets, they are counter sueing. The fact you couldn't get that right makes me doubt your knowledge of the relevant tax law.

    Personally I don't know anything about this kind of tax law either, and I couldn't say what my opinion is on how the quote "ticket tax -- an excise tax on payments made in exchange for air transportation" affects the following units of NetJets in the follow amounts, "NetJets Aviation Inc. owes more than $302.1 million, and another unit, NetJets International, is liable for $52.9 million, the U.S. said. Executive Jet Management Inc. owes $10 million while NetJets Large Aircraft owes $1.19 million, the U.S. claimed."

    And frankly no one here has the knowledge to make an informed opinion and therefore any opinion making being done is a clearly biased and partisan, and the resulting opinion is obviously one formed of that bias and partisanship and not grounded in fact whatsoever.
    The only way they would owe a ticket tax is if they actually sold fares, such as American Airlines. Since its their jets, and they aren't charging anyone to ride them, how can they be selling tickets?

    That would be akin to making every car owner pay the rental car excise tax everytime they take their car out of the garage.

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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Samhain View Post
    The only way they would owe a ticket tax is if they actually sold fares, such as American Airlines. Since its their jets, and they aren't charging anyone to ride them, how can they be selling tickets?

    That would be akin to making every car owner pay the rental car excise tax everytime they take their car out of the garage.
    It might appear that way on cursory inspection, but fractional ownership aircraft companies fall into a bit of a dodgy spot in regulations. On paper, the customers of NetJets "own" a fraction of the airplane. You can buy, say, a 1/16 share in a jet and it gets you X number of flying hours per year on the plane. The pilots are provided for you, you just let the company know where and when and they take you. Originally, this sort of operation fell under the same regulations as your local guy puttering around in his Cessna, because technically the passenger was the "owner" of the plane. This bypassed a LOT of safety rules. (and apparently taxes)

    Thing is, what they're really doing is effectively a charter operation. The passengers don't deal with any aircraft management, maintenance, or employment of pilots. They just show up and take a ride. They don't even go on "their" airplane most of the time, while you own a share in a jet, the one you ride on from day to day might be any random jet in the fleet. Charter operations have stricter safety regulations. The more reputable fractional companies already were voluntarily adhering to those standards (NetJets included), but the FAA had to step in and regulate them a few years back.

    In short, while on paper they appear to own the airplanes, it's a charter operation in reality. In my personal opinion, they shouldn't be able to avoid the taxes that go with it.
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    Re: Buffett’s NetJets Is Countersued by U.S. for $366 Million in Unpaid Taxes

    Quote Originally Posted by Samhain View Post
    The only way they would owe a ticket tax is if they actually sold fares, such as American Airlines. Since its their jets, and they aren't charging anyone to ride them, how can they be selling tickets?

    That would be akin to making every car owner pay the rental car excise tax everytime they take their car out of the garage.
    I don't believe its that simple, I know its refereed to as a "ticket tax" but I'm sure there's way more to this tax law then its two word name. If it was that simple, this wouldn't be an issue. Of course I'm just assuming because I don't know what this ticket tax is or what it does and does not apply to.

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