Under-Taxed Billionaire Sues IRS for $642 Mil assessment

[hypocritexposer]

:lol: :lol:

NetJets, the private-aircraft company owned by Warren Buffett's Berkshire Hathaway Inc. (BRK/A), sued the U.S. over excise taxes and penalties totaling $642.7 million assessed against the company.

The Internal Revenue Service improperly assessed the so-called ticket tax, an excise tax on payments made in exchange for air transportation, NetJets said in its complaint in federal court in Columbus, Ohio, dated Nov. 14.

NetJets seeks a refund and abatement of the ticket tax. The company claims in its suit that Congress intended the tax to apply to passengers who use commercial or charter aircraft owned by others.

http://www.bloomberg.com/news/2011-11-17/buffett-s-netjets-sues-u-s-over-642-7-million-ticket-tax-assessment.html#

http://michellemalkin.com/2011/11/20/company-billionaire-assessment/

 

[TSR]

Buffet owns how much of Berkshire/Hathaway???

 

[hypocritexposer]

Buffet owns how much of Berkshire/Hathaway???

What ever amount makes him the boss....and the responsibilities that go along with that position

 

[TSR]

You mean even if he owns 3% he is the boss?

 

[hypocritexposer]

TSR, do you know how to use Google?

 

[Steve]

Warren Buffett Gains Control of Berkshire Hathaway
Buffett's role at Berkshire Hathaway had actually been somewhat defined years earlier. On May 10, 1965, after accumulating 49% of the common stock, Warren named himself Director.

Two years later, in 1967, Warren asked National Indemnity's founder and controlling shareholder Jack Ringwalt to his office. Asked what he thought the company was worth, Ringwalt told Buffett at least $50 per share, a $17 premium above its then-trading price of $33. Warren offered to buy the whole company on the spot

In 1970, Buffett named himself Chairman of the Board of Berkshire Hathaway

I could find no mention of buffet ever selling a single share, by the look of it Buffet has ran the corporation since May 10 1965 and is in total control..

 

[hypocritexposer]

Warren Buffett Gains Control of Berkshire Hathaway
Buffett's role at Berkshire Hathaway had actually been somewhat defined years earlier. On May 10, 1965, after accumulating 49% of the common stock, Warren named himself Director.

Two years later, in 1967, Warren asked National Indemnity's founder and controlling shareholder Jack Ringwalt to his office. Asked what he thought the company was worth, Ringwalt told Buffett at least $50 per share, a $17 premium above its then-trading price of $33. Warren offered to buy the whole company on the spot

In 1970, Buffett named himself Chairman of the Board of Berkshire Hathaway

I could find no mention of buffet ever selling a single share, by the look of it Buffet has ran the corporation since May 10 1965 and is in total control..

I believe he sold share this year or last. He maintains the plurality of shares, or about 38%