Sotheby's Settles for $6.25 Million Over Alleged Tax Evasion Facilitation as NY Attorney General Cracks Down on Art Market
Sotheby's settles for $6.25 million over clients' tax evasion on art purchases after a New York investigation.
Sotheby’s settles lawsuit alleging it helped art collectors avoid taxes on works by Basquiat, others
One such tax cheat art fanatic, dubbed “the collector” bought $27 million in art from Sotheby’s between 2010 and 2015 and lied about being a reseller in order to avoid paying taxes on the
Sotheby's to pay $6.25 million to settle state lawsuit alleging tax cheating by clients
The state said the auction house helped clients cheat their way out of paying tens of millions of dollars in sales taxes
Sotheby's pays $6.25M in tax evasion probe
Employees at the auction house nudged wealthy clients to use questionable strategies in order to dodge millions in taxes, according to New York's attorney general.
Sotheby’s Settles Tax Fraud Lawsuit for $6.25 Million
New York’s attorney general said in a lawsuit that the auction house had helped collectors avoid tax payments on art purchases.
Sotheby's to pay $6.25 mln in tax fraud case
The auction house Sotheby's will pay $6.25 million to settle charges that it helped art buyers avoid paying taxes. It said the auction house encouraged buyers to state fraudulently that they were acquiring works for resale later.
Sotheby's settles New York tax fraud case, pays damages
Sotheby's will pay $6.25 million and adopt reforms to settle New York Attorney General Letitia James' lawsuit accusing the famed auction house of fraudulently helping clients avoid sales taxes on tens of millions of dollars of art purchases.
Sotheby’s Settles $6.25 Million Tax Evasion Lawsuit
New York’s attorney general says the auction house helped eight collectors pose as art dealers to avoid paying taxes on art buys. Sotheby’s admits no wrongdoing.
Sotheby's Settles Tax Fraud Lawsuit with $6.25 Million Payment
Sotheby's has agreed to pay $6.25 million to resolve a lawsuit by the New York Attorney General accusing it of enabling clients to evade taxes on art purchases. The settlement includes damages and reforms,
Sotheby’s Pays $6 Million to Settle NY Sales Tax Evasion Probe
Sotheby’s Inc. agreed to pay $6.25 million to settle a New York state lawsuit that accused it of advising wealthy clients they could avoid sales taxes by falsely claiming they were buying art for resale purposes.
Sotheby's Agrees to Pay New York 6.25 M. To Settle Art Sales Tax Fraud Case
A source familiar with the settlement said that Sotheby's "always believed that the NYAG had the law and facts wrong."
Artnet3h
Sotheby’s Agrees to Pay $6.25 Million in Tax Fraud Settlement
Sotheby’s has agreed to pay $6.25 million to the state of New York and implement several reforms to resolve a tax fraud ...
The Art Newspaper22h
Sotheby's pays over $6m to settle tax evasion case
New York’s Attorney General (NYAG) Letitia James first brought the case against Sotheby’s in November 2020, claiming that ...
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Who Owns the Most Expensive Homes Around Washington, D.C.?
A London megamansion, for example, changed hands in 2020 for £210 million, or around $272 million. Washington is a smaller ...