EFTA02620053

From: Barry J. Cohen < Sent: Tuesday, October 9, 2018 12:36 PM To: Subject: RE: Re: By the way, we're up to 19 state filings, without this new investment. From: J <[email protected]> Sent: Tuesday, October 09, 2018 8:32 AM To: Barry J. Cohen < Subject: Re: Re: why dont you jhave them show you a sample of what leons returns would show. Im unclear if each state is a different entity? the fasb rules look like they are not yet decided.? i think the market looks pretty efficient so that s my oveall concern. On Tue, Oct 9, 2018 at 8:16 AM Barry J. Cohen < <mailto » wrote: Yes, definitely a pass through. These are usually pretty short term tax credits so gain on use vs. acquisition shouldn't make a lot of difference. And yes, income is projected to be offset by interest. As we make more, we borrow more. A little like the real estate business, we make our cashflow through borrowing. Good point on the state filings. I will check. From: J <[email protected] <mailto:[email protected]» Sent: Tuesday, October 09, 2018 8:05 AM To: Barry J. Cohen < <mailto Subject: Re: sorry, on the call it was said it is a pass through . the article says maybe a gain on use? is that offset by the interest on borrowing? his return is s000 cluttered , a little more or less not relevant , but would he be required to file in each state.? for ex. what powers to the regulators have etc. On Tue, Oct 9, 2018 at 7:57 AM Barry J. Cohen < <mailto » wrote: EFTA_R1_01825593 EFTA02620053 The tax to Leon nets out to zero for the foreseeable future. But it would all likely flow through. We have seen no evidence of audit or even controversy on the company's returns. Is your concern that notwithstanding this that a bunch of items could clutter up his return and increase his profile with the IRS? Sent from my iPhone On Oct 9, 2018, at 7:40 AM, J <[email protected] <[email protected]» wrote: work on the subject , only in oregon , so maybe not relevant but gives you a peek into issues.. please note 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 JEE 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 [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved <Korejwa_MPP_Essay_Redacted.pdf> please note 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 JEE 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 [email protected] <[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 2 EFTA_R1_01825594 EFTA02620054 please note 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 _WE 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 [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 3 EFTA_R1_01825595 EFTA02620055