Buffet’s NetJets Sued For $366.3 Million In Back Taxes

NetJets, a susidiary of Warren Buffet’s Berkshire Hathaway (BRK-A), (BRK-B), was sued by the United States government on Thursday last. The suit says NetJets is liable for unpaid taxes to the tune of $366.3 million. This is a counter suit related to a filing the company had made last November against the government claiming $642.7 million in a dispute over mistakenly applied taxes. The government alleges that four of the companies in the NetJets group had “failed, neglected or refused to pay its federal tax liabilities ... in full”. The suit named...