Wealth
The Jeffrey Epstein Guide to Cutting Your Tax Bill by 90%
- He benefited from the Virgin Islands tax haven since the 1990s
- Epstein stayed on after a crackdown on general abuses in 2004
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There are a lot of theories about the sources of Jeffrey Epstein’s wealth and how he earned his one-time reputation as a brilliant money manager. One thing that isn’t disputed is that he knew how to cut his tax bills by setting up shop in the U.S. Virgin Islands.
That didn’t require any particular skill on Epstein’s part. The rules set by the Economic Development Commission in St. Thomas allow some businesses in the U.S. territory to, after meeting certain conditions, significantly lower their exposure to federal corporate and personal income taxes. By, possibly, 90%.