EXHIBIT 45¶
United States Virgin Islands¶
ECONOMIC DEVELOPMENT COMMISSION ANNUAL REPORT¶
Fiscal/Calendar Year Ending¶
December 31, 2007¶
| Financial Trust Company Inc. | ||
|---|---|---|
| Gross Sales (Ineligible Sales) & Eligible for Tax Benefits … | ( $ - ) | $ 4007430 |
| Other Income (Ineligible) & Eligible for Tax Benefits | ( $ - ) | $ 35970100 |
| Gross Wages Paid in the V.I. (Include vacation & sick pay, bonuses, overtime, etc.) | $ 796196 | |
| Average No. of Employees; Full Time & (Part Time/Other)… | 11 | |
| Average No. of Residents; Full Time & (Part Time/Other)… | 11 | |
| Average No. of Non-Residents; Full Time & (Part Time/Other)… | ||
| Other Employee Costs (Unemployment & health insurance, pension, allowance, etc.) | $ 224214 | |
| Employee Income Taxes Paid and Withheld | $ 234257 |
TAXES AND DUTIES (Provide dollar amount paid, and value of exemption/refund for each tax)¶
| Gross Receipts: | Amount Paid | $ - |
|---|---|---|
| Dollar Value of Exemption | $ 160297 | |
| Real Property Tax: | Amount Paid | $ - |
| Dollar Value of Exemption | $ - | |
| Excise Taxes: | Total Paid | $ - |
| Dollar Value of Exemption/Refund | $ - | |
| Income Taxes: | Total Paid | $ - |
| Dollar Value of Exemption/Refund | $ - | |
| Customs Duties: | Total Paid | $ - |
| Dollar Value of Exemption/Refund | $ - | |
| Other: | Hotel room taxes paid | $ - |
| Other Taxes, Fee Paid to V.I. Government | $ 1297 | |
| TOTAL TAXES PAID: | $ 1297 | |
| TOTAL VALUE OF EXEMPTIONS AND OR REFUNDS: | $ 160297 |
EXPENDITURES FOR GOODS, SERVICES, PLANT & EQUIPMENT¶
| Eligible Supplier | V.I. Suppliers | Non-Local | Totals | |
|---|---|---|---|---|
| Goods and Services: | ||||
| Faw materials, components | $ - | - | ||
| Food, beverage | $ - | - | ||
| Freight Charges | $ - | - | ||
| Insurance | 16352 | 7378 | 23,730 | |
| Legal/ Accounting | 16159 | 3023 | 80768 | 99,950 |
| Advertising / Promotion | 2120 | 2,120 | ||
| Utilities (tel., water, elect. etc.) | 1213 | 48980 | 50,193 | |
| Interest & Other Bank Chg. | 15 | 150 | 166 | |
| Supplies | 10639 | 32616 | 6476 | 49,731 |
| Repairs/Maintenance | 10253 | 1821 | 4123 | 16197 |
| Other (List Separately) | 1500 | 341200 | 2143 | 344843 |
| Subtotal, Goods and Svcs: | 39763 | 446127 | 101039 | 586930 |
| Capital Expenditures: | - | |||
| Building & Improvements | - | |||
| Leasehold Improvements | 17993 | 17,993 | ||
| Machinery / Equipment | 11932 | 11,932 | ||
| Furniture / Fixtures | - | |||
| Vehicles | - | |||
| Other (List Separately) | - | |||
| Subtotal, Capital Expend: | 29925 | 29925 | ||
| GRAND TOTALS | 39763 | 476052 | 101039 | 616855 |
CUMULATIVE CAPITAL EXPENDITURES UNDER EDC CERTIFICATE¶
Name/Signature of Preparer:¶
Jeanne Busso (Signature)¶
Date:¶
4/08¶
Jeanne¶
Telephone Number:¶
340-775-2525¶
(Print Name)¶
Fiscal/Calendar Year Ending Daceatber 31, 2007¶
Company Name: Financial Twat Company, Inc.¶
PLANT 8 EQUIPMENT -Other EXPENDTTURES FOR GOODS, SERVICES,¶
| Goods and Services: Dues and subscrIbtions | Eligible Supplier | V.I. Suppliers 1093 | Non-Local 465 $ | Totals 1558 |
|---|---|---|---|---|
| Seminars and education | 360 | 795 | 1155 | |
| Postage and delivery | 9310 | $ | 9310 | |
| Travel | 10172 | 883 $ | 11055 | |
| Meals and transportaion Charitable contributions | 5945 | $ | 5945 | |
| Company | 6.065 | $ | 6065 | |
| Foundation | 218.550 | $ | 218550 | |
| Co-op marketing fee/compliance fees | 1500 | $ | 1500 | |
| Rent | 89704 | $ | 89704 | |
| Subtotal, Goods and Svcs: | 1500 | 341200 | 2143 $ | 344843 |
Investors Dream¶
EDC ANNUAL REPORT Value of Exemptions of Stockholders/Partners/Members¶
BENEFICIARY Financial Trust Company, Inc. Fiscal Year Ending December 31, 2007¶
Case 1:22-cv-10904-JSR Document 194-8 Filed 06/20/23 Page 4 of 5¶
| Stockholders, Partners or Members | Social Security No. | Physical Address | % Distributable Shares | EDC Income | Business Activity | Total Tax Due | EDC Credit | Balance Tax Due |
|---|---|---|---|---|---|---|---|---|
| Jeffrey E. Epstein | [REDACTED] | Little Saint James St. Thomas U.S. Virgin Islands | 100 | See page 1 of Economic Development Commission Annual Report | ||||
| TOTAL: | $ | $ | $ | $ |
Note: Totals of EDC Credit and Balance Tax Due must be carried forward to the EDC Annual Report and reported under Taxes and Duties (See instructions).¶
VL-PM-00012632¶
HIGHLY CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER¶
Investors Dream¶
INDUSTRIAL PARK DEVELOPMENT CORPORATION¶
October 8, 2008¶
Cecile R. de Jongh Manager 6100 Red Hook Quarters, B3 St. [REDACTED], VI 00802-1348¶
RECEIVED OCT 14 2008 Financial Trust Co.¶
Dear Mrs. De Jongh:¶
In response to your letter dated October 7, 2008, requesting an extension to file the 2007 EDC Annual Report, an extension to October 15, 2008 is hereby granted to Financial Trust Company Inc. to file its 2007 Annual Reports and supporting audited financial statement or tax return.¶
Please note in accordance with the Rules and Regulations amended December 22, 2004, the Annual Report along with a copy of the Beneficiary’s Audited Financial Statement or Income Tax Return must be submitted within 30 days of the filing deadline of the Beneficiary’s Income Tax return and any extensions thereto. Penalty will be assessed on the 31{sup}st day following the report’s due date.¶
If you subsequently submit a second application for extension of time to file your income tax return with the VI Bureau of Internal Revenue, you will be required to notify the EDC and provide a copy of the stamped application. The EDC will then appropriately extend the date for filing the EDC Annual Report.¶
If you have any questions regarding this decision, please do not hesitate to contact me. Your timely submission of the report is anticipated.¶
Sincerely,¶
Cc: Sandra Bess, Compliance Officer¶
A DIVISION OF THE ECONOMIC DEVELOPMENT AUTHORITY¶
P.O. BOX 305038 • ST. [REDACTED] U.S. VIRGIN ISLANDS 00803 • (340) 774-8104 • Fax (340) 774-8106 #116 KINGSTREET • ST. CROIX, U.S. VIRGIN ISLANDS 00840 • (340) 773-6499 • Fax (340) 773-7701 TOLL FREE 1-877-432-8784 • www.usvicda.org¶