EFTA02721999

To: jeeyacationftmail.com[jeeyacation©gmail.corn]; Jeffrey Epsteinbeevacation©gmaii.corn] From: Joi Ito Sent Mon 7/22/2013 11:14:03 AM Subject: Re: L3C Yup. On Jul 22, 2013, at 07:10 , Jeffrey Epstein leevaeation@gmail,com> wrote: lets keep it between you and I On Mon, Jul 22, 2013 at 6:57 AM, Joi Ito 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 leevaeation(aagmail.com> 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 Ma 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 leevacationegmail.com> 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 EFTA_Ri _02206592 PROT0 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 leevacation@g_mail.com> 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 arc fact specific. you could get a letter ruling . not difficult. and the only true protection. http://www.americansforcommuni ydevelopmentorg/proposcdfedlcaisl ation gives you some examples. its a state by state issue, and the feds can nile on PRI. s , i On Sun, Jul 21, 2013 at 9:30 AM, Joi Ito wrote: Had the IRS ruled whether an investment in an L3C by a family foundation or a non-public charity non-profit is tax-free? - Joi The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this PROT4 PROT1 communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved Please use my alternative address, avoid email auto responder The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any pan thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jecvacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved Please use my alternative address to avoid email auto responder The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any pan thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jgcvacation@gmail coin, and destroy this communication and all copies thereof, PROT5 PROT2 including all attachments. copyright -all rights reserved Please use my alternative addres to avoid email auto responder The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved Please use my alternative addresses to avoid email auto responder PROT6 PROT3