Friday, March 12, 2010

Harrah's says its can't pay more in taxes because it has to protect its corporate jets

On a day when I'll be in meetings discussing program terminations and faculty layoffs, its really galling to read a story like this one:

Harrah’s has sued Nevada, seeking the refund of $10 million in taxes the gaming giant paid on four corporate jets....Harrah’s argues it should not have paid tax on the aircraft it purchased in 2006 because the planes’ first flights were to locations outside Nevada and during the first 12 months of operation, they were used for interstate commerce — ferrying corporate executives and casino patrons around the country and globe.

If the company prevails, it would get back the $8.5 million it paid in taxes, plus interest.

Meanwhile, our students will be paying another around of fee increases because sadly, they can't claim an exemption due to their corporate jets taking them on interstate junkets.

I suppose this is what Mr Vasiliades meant when he said gaming just "can't" pay more in taxes "this time."

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