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Keyword: legendinternational

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  • CA: Governor in the jet-lease business

    01/03/2006 10:18:43 AM PST · by NormsRevenge · 21 replies · 373+ views
    Sac Bee ^ | 1/3/06 | Andrew McIntosh
    A company owned by Gov. Arnold Schwarzenegger has deferred paying state and federal income taxes on millions of dollars in revenue it generated since late 1997, thanks to a deal under which it bought a 747 jet from Singapore Airlines and leased it right back to the airline. Despite claims by Schwarzenegger's top advisers during a 2003 campaign briefing that the actor's investments included "no tax shelters" and were "absolutely not tax-driven," a Bee examination of his company's 747 deal shows his company took advantage of what experts say is one of the most attractive tax sheltering devices available to...