A move by the super rich: Here's why Jeffrey Epstein likely paid little in the way of taxes
Because Jeffrey Epstein owned a home and business in the Virgin Islands, he likely got a substantial break on his tax bill.
The now-deceased financier, accused of sexually assaulting and trafficking girls as young as 14, had more than $179 million in assets from real estate, including a New Mexico ranch, a home in Palm Beach, a residence in Paris and aThe Virgin Islands has its own system based on the tax laws and rates that apply in the U.S., according to the IRS, yet some tax-incentive programs there also make it possible for residents to reduce their federal income tax liability by as much as 90%.
Claiming residency in a low- or no-tax jurisdiction typically means spending 183 days a year there, for starters, and, according to reports, EpsteinLittle St. James Island, one of the properties of financier Jeffrey Epstein, is seen in an aerial view near Charlotte Amalie, St. Thomas, U.S. Virgin Islands July 21, 2019.
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