From: Ada Clapp <1 To: Jeffrey Epstein <[email protected]> CC: Eileen Alexanderson Subject: RE: State Income Taxation of the various Black Trusts Date: Wed, 12 Feb 2014 23:27:02 +0000 And possibly California tax. I agree that this is not a big issue for $18 million. May be a different story when it becomes $100 million. For the long term radar.... Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Email: IRS Circular 230 Disclosure: Pursuant to IRS regulations, I inform you that any tax advice contained in this communication (including attachments) is not intended or written to be used, and cannot be used, by any person or entity for the purposes of (i) avoiding tax related penalties imposed by any governmental tax authority, or (ii) proposing, marketing or recommending to another party any transaction or matter discussed herein. I advise you to consult with an independent tax advisor on your particular tax circumstances. This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: Jeffrey Epstein [mailto:[email protected]] Sent: Wednesday, February 12, 2014 4:24 PM To: Ada Clapp; Melanie Spinella Cc: Richard Joslin; Alan S Halperin; Eileen Alexanderson Subject: Re: State Income Taxation of the various Black Trusts we will just pay the ny tax. On Wed, Feb 12, 2014 at 7:21 PM, Ada Clapp < > wrote: As you know, in connection with rolling out the split Dollar Agreement to which the Leon D. Black 1999 Life Insurance Trust #2 ("Trust #2") is a party, the APOI Trustees were asked to give Trust #2 a distribution of ab