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Reader comment on: Buffett's Tax Win

Submitted by Lorri (United States), Mar 7, 2012 19:16

Too bad the writer doesn't know what he's talking about. First, the $643 mil. tax is not owed by Berkshire Hathaway, its owed by the NetJets aircraft owners. Second, the new law is not retroactive, so it has no bearing on taxes owed (or not owed) for tax periods prior to the effective date of the new law - April 1, 2012. Third, the writer also didn't tell you that the new bill includes a new tax that NetJets fractional owners will be subject to going forward. Finally, for the record, whether or not the taxes are owed for prior tax periods as is claimed by the IRS is a hotly contested matter by more companies than just NetJets. Just sayin'.

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