From: "McGraw, Thomas"
To: Jeffrey Epstein <jeevacation@gmail.com>
Subject: RE: happy new year
Date: Wed, 30 Jan 2013 23:03:08 +0000
Been at offsite & just looking at your e-mail I think not. NY tax law incorporates by reference federal tax law as starting
point and then makes various modifications. In brief review I see no changes under NY sales & use tax statutes that would
trump/modify otherwise applicable fed law including grantor statutes incorporated into NY tax law. Hence substitution of
identical value in grantor should not create a "sale" transaction or event for sales tax to apply.
From: Jeffrey Epstein (maittoleevacation@gmalLoom]
Sent: Saturday, January 26, 2013 8:58 AM
To: McGraw, Thomas
Subject: happy new year
if i excahnge art held in his own name for stock held in the trst , do i have a sales tax. it is not a purchase-- as it
is under a right of substituion of collateral provision, it is a defe gran trust so to capital gain, if i put it in a
partnership with wife first and excahnge part interests,? no sales tax?
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