From: Jeffrey Epstein <[email protected]> To: Joi Ito Subject: Re: L3C Date: Mon, 22 Jul 2013 11:10:58 +0000 lets keep it between you and I On Mon, Jul 22, 2013 at 6:57 AM, Joi Ito <ja. wrote: The founder/head of Mozilla Corp., Mitchell Baker, says that she's interested in exploring. I'm asking about why the contribution is small. I wonder if it would be easier to add the her to this thread... Or maybe it's better if she doesn't know who is working on this with me. ;-) - Joi On Jul 21, 2013, at 10:38 , Jeffrey Epstein <[email protected]> wrote: I have started reading re structure on line / what happens to the after tax proceeds of the corp. why doesn't it contribute to the foundation, Broad terms each requiring details On Sun, Jul 21, 2013 at 10:35 AM, Joi Ito <MI > wrote: The Corp. is incorporated and the only shareholder is the foundation which is a 501(c)3. Let me talk to the CEO and ask her if she wants my opinion on this. ;-) - Joi On Jul 21, 2013, at 10:22 , Jeffrey Epstein <[email protected]> wrote: ok, lets play where are they both incorporated, shareholders. ? if you paid no corporate tax , where would the 50 million go? On Sun, Jul 21, 2013 at 10:14 AM, Joi Ito < > wrote: Got it. One question would be whether the L3C would be useful for the Mozilla Foundation which owns Mozilla Corporation. Mozilla Corp. makes 400M a year in revenue with 100M earnings. 5M gets distributed the the parent, a 501(c)3 as a brand licensing fee. We currently pay tax on the earnings in the corp. There are two boards now, the foundation board and the corporation board. Could we make this thing more efficient easily? - Joi On Jul 21, 2013, at 09:49 , Jeffrey Epstein <[email protected]> wrote: You need to better define your question, are you referring to the investment itself being taxed ( excise , ubti etc ) , or the profits somehow defined being taxed,? Usually these things are fact specific. you could get a letter ruling . not diffi