- Associated Press - Wednesday, July 20, 2016

NEW YORK (AP) - International art dealer Gagosian Gallery has agreed to pay $4.28 million in back sales taxes in New York.

State Attorney General Eric Schneiderman says Gagosian’s California affiliate, Pre-War Art, Inc., sold and shipped nearly $40 million of art to customers in New York without collecting or remitting state and local taxes between 2005 and 2015.

Schneiderman says the dealer also failed to collect taxes on art sold in New York and shipped out of state from 2012 to 2015.

Gagosian said it’s fully complying with the terms of the settlement announced Tuesday. It does not admit any wrongdoing.

Gagosian has contemporary art galleries in major cities across the globe. Schneiderman says it sells about $1 billion of art annually.

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