Epstein Secrets

S:'/IALL BUSINESS/SELF-EMPLOYED DIVISION Date: March 31, 2016 Estate & Gift Tax Attorney - Lawrence Falk Badge # - 13; Teleph Fax # e-mail -I Leon D. Black 760 Park Avenue New York, N.Y. 10021 Gift Tax Return — 2013 Tax Period Donor - Leon D. Black Dear Mr. Black, The 2013 gift tax return has been

; Teleph Fax # e-mail -I Leon D. Black 760 Park Avenue New York, N.Y. 10021 Gift Tax Return — 2013 Tax Period Donor - Leon D. Black Dear Mr. Black, The 2013 gift tax return has been selected for examination. If you would prefer to be represented by an attorney or accountant, please have the en

5% Limited Partnership Interest in Black Family Partners, L.P. The appraisal cited iviergerstat Review 2013 and stated that the control premiums in Mergerstat corresponded to a discount for lack of control of 27%. The appraisal then cited Mergerstat's Third Quarter 2013 Control Premium Study and stated th

Empire's valuations of: (1) a 37.75% interest in Black Family Partners, LP ("BFP") as of October 25, 201

. Empire did consider, as a starting point in selecting an applicable discount, the information presented by the following: Mergerstat Review 2013, Mergerstat's Quarter Control Premium Study, Closed End Investments Companies, and the FMV Restricted Stock Study. The range from these studies for a "lack of

Empire's valuations of: (1) a 37.75% interest in Black Family Partners, LP ("BFP") as of October 25, 20

of control and marketability discounts presented in Empire's valuation reports. Empire considered information presented by Mergerstat Review 2013, Mergerstat's 3'd Quarter Control Premium Study, Closed End Investments Companies, and the FMV Restricted Stock Study as guidance for selecting an applicable la