To: Jeffrey Epstein(jeevacation©gmail.comj
From: McGraw, Thomas
Sent Wed 1/30/2013 11:03:08 PM
Subject: RE: happy new year
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 [mailto:jeevacation@gmail.com]
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 cxcahnge part interests,? no sales tax?
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