It's an income tax thing.
Think of it as you work for a company that provides you a company car.
Odds are you used that car on the weekend and other off-hours.
In theory you are supposed to claim that usage as income.
···
-----Original Message-----
From: Curtis Rich [mailto:LGTVe…@…com]
Sent: Tuesday, September 16, 2008 02:09 PM
To: vpFREE@yahoogroups.com
Subject: Re: [vpFREE] wynn update…
Per the news article, "Wynn received $11.2 million in compensation from the
company last year, including $3.2 million in salary, $7.5 million in
non-equity incentive plan compensation and about $573,000 in other
compensation, mostly for personal use of company aircraft."
Why would an officer RECEIVE compensation for his personal use of company
aircraft? Wouldn't it be the other way around? Shouldn't the officer PAY
the company for his personal use of company aircraft?
Curtis
On Tue, Sep 16, 2008 at 7:30 AM, irdd3000 <irdd@netzero.net> wrote:
i suppose he gets to keep his name on the building until then too...
http://biz.yahoo.com/ap/080915/wynn_resorts_ceo.html?.v=1&printer=1
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