EFTA02675105.pdf

From: Thomas Turrin Sent: Saturday, Mari... To: Jeffrey Epstein Attachments: Leon D. Black - Years 2006 - 2011 Summary of federal and state taxes paid.pdf Jeffrey, As per our call... 1. &=bsp; I called Elliot Becker (internal tax manager of Apo=lo (Purchase)) - he will get me information on the deferred COD income to =e recognized — I expect to hear from him =n Monday. 2. &=bsp; Charitable Remainder Trust — foreign source i=come retains its character as foreign source to the income beneficiary. Creditable foreign taxes also pass through to=income beneficiary. If the CRT maintains a foreign bank or other fin=ncial account, the CRT (and trustee) would need to file FBAR's .&nbs=; The beneficiary may have FBAR requirement as well, if the beneficiary has a 50% or more interest in the trust...as well as FATCA (form 8938).&nbs=; 3. &=bsp; Estate tax (federal and NYS) — The top NYS es=ate tax rate is 16%; the top federal estate tax rate is 40%. T=e NYS estate tax is a deduction on the federal estate tax return.=nbsp; ..the "all in" net rate on a $1 billion estate is approx=mately 45.2%. The larger the estate, the higher the overall net all in rate would be since mo=e of the estate would be taxed at the maximum rates...could be close t= 50%. 4. &=bsp; Attached is a summary of total income taxes (as per=tax returns — fed and NYS/C) for years 2006-11. I will get back to you this coming week on updated p=ojected April 15th tax payments. It will not be finalft=0;there is much EFTA_R1_01960377 EFTA02675105 information (K-1 projections etc) to be received ove= the 4-5 weeks. If you have any questions, please contact me.</=:p> Best, Tom THOMAS TURRIN, CPA<=p> Partner Raich Ende Malter & =o. LLP 1375 Broadway New York, New York =0018 =/span> Email: Website: www.=em-co.com <http://www.rem-co.com> 2 EFTA_R1_01960378 EFTA02675106 &n=sp; &n=sp; CONFIDENTIALITY STATEMENT: The information contained in this elect=onic communication, including any and all attachments and enclosures, may be privileged and is strictly confidential, intended s=lely for the use of the person(s) identified above to receive this communi=ation. If you are not the person(s) identified above to receive this commu=ication, you are hereby notified that you may not disclose print, copy, disseminate, or otherwise use the i=formation contained herein. If you are an employee or agent of the person(=) identified above to receive this communication and, as such, you have be=n authorized to deliver this communication to such person(s), you may disclose, print, copy, disseminate, or otherwis= use the information contained in this communication solely for the purpos= of such delivery. Unauthorized interception and/or use of this communicat=on are/is strictly prohibited and may be punishable by law. If you have received this communication in error= please reply and notify the sender (only) of that fact and delete the com=unication, including any and all attachments and enclosures, from your com=uter or other electronic device on which you may have received this communication. CIRCULAR 230 DISCLOSURE: To insure compliance with requirements imposed by the Internal Reven=e Service, we inform you that any tax advice contained in this communication (including any and all attachments), unles= expressly stated otherwise, was not intended or written to be used and ca=not be used for the purpose of (i) avoiding tax-related penalties imposed =y the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transactio=(s) or tax-related matter(s) addressed herein. This communication may not =e forwarded (other than to the addressee(s) identified above) without our =xpress written consent. 3 EFTA_R1_01960379 EFTA02675107