Tax Investigations in the New York Art World

December 6, 2016
Herrick, Feinstein LLP

2 Park Avenue

New York City

A rise in investigations by New York's Attorney General and the Department of Taxation and Finance should give New York art galleries pause. Herrick's Vic Rocco led a lively roundtable discussion about key issues art industry executives need to be aware of.

Discussion topics included:

  • How to update shipping practices to protect yourself from unforeseen tax consequences,
  • How to prepare and defend yourself in an audit,
  • Exposure when acting as an intermediary for a like-kind exchange,
  • Other strategies for limiting tax liability.