International art dealer Larry Gagosian agreed to pay $4.28 million in sales taxes on $40 million worth of art that his companies sold over the last decade, state Attorney General Eric Schneiderman announced Tuesday.
Schneiderman said that Gagosian Gallery and its California affiliate, Pre-War Art, Inc., failed to collect state and local sales taxes from 2005 to 2015 on art shipped by Pre-War to New York customers and other works bought at Gagosian Gallery in Manhattan, but shipped out of state.
Schneiderman said art is like anything else when it is shipped to customers in the state: Vendors must include state and local sales taxes on the bill. Likewise, he said, sales taxes must be applied to art that is bought in New York and shipped out of state if the shipping is done by a special carrier hired by the purchaser.
In addition to paying back taxes, Gagosian agreed to have Pre-War provide sales information to the New York State Department of Taxation and Finance for the next six years and to create a division, GG Shipping, to handle the shipment of art from Gagosian Gallery in Manhattan to out-of-state customers.
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The Gagosian Gallery issued a statement Tuesday, saying "although we cannot comment on these findings, we accept and will fully comply with the terms of the settlement to bring closure to this matter."Send a Letter to the Editor
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