News & Analysis as of September 18, 2024

Income Taxes › Tribal Governments

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Corporate Transparency Act Requires Small Businesses To Disclose Beneficial Ownership Information Beginning In 2024

Dunlap Bennett & Ludwig PLLC on 12/12/2023

In January of 2021, Congress passed the Corporate Transparency Act of 2019 (the “CTA”) as part of the 2021 Defense Bill. Initially introduced in 2019, the CTA requires private companies to disclose their “Beneficial Owners”...more

Weekly IRS Roundup March 20 – March 26, 2022

McDermott Will & Emery on 3/29/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 20, 2022 – March 26, 2022... March 21, 2022: The IRS issued Revenue Ruling 2022-07,...more

Treasury Department to Host Treasury Tribal Advisory Committee Meeting on Dec. 3, 2019

Holland & Knight LLP on 11/25/2019

The Treasury Tribal Advisory Committee (TTAC) on Dec. 3, 2019, will hold its third periodic meeting at the U.S. Department of the Treasury in Washington, D.C. During this meeting, members will: Directly following the TTAC...more

Treasury Tribal Advisory Committee Meeting set for June 20, 2019

Akin Gump Strauss Hauer & Feld LLP on 6/10/2019

On Wednesday, June 5, the Treasury Department published a notice in the Federal Register announcing that the Treasury Tribal Advisory Committee (TTAC) will meet on Thursday, June 20, from 9:00 a.m. - 4:30 p.m. Eastern Time in...more

Seven Tips for Tribal Governments to Reduce Tribal Member Taxes in 2019

Holland & Knight LLP on 2/5/2019

• With Democrats taking control of the U.S. House of Representatives, tax provisions affecting tribal governments and their members are once again on the table for discussion. • This notice provides an overview of seven...more

New Guidance on Opportunity Zones: Incentives for Investments in Low-Income Communities

Holland & Knight LLP on 10/23/2018

• Holland & Knight previously published a three-part series describing the powerful new tax incentive contained in the Tax Cuts and Jobs Act for investments in low-income communities designated as "Opportunity Zones." •...more

Tax Parity, Kiddie Tax Exemption Still Needed for Indian Country

Holland & Knight LLP on 6/5/2018

• Indian Country was disappointed in the Tax Cuts and Jobs Act of 2017's lack of inclusion of provisions that would put tribes on an equal footing with sovereign nations. • In addition, modifications of the "Kiddie Tax"...more

Six Tips for Tribal Governments to Reduce Tribal Member Taxes in 2018

Holland & Knight LLP on 2/26/2018

• President Donald Trump on Dec. 22, 2017, signed the Tax Cuts and Jobs Act, the first major overhaul of the U.S. tax system in over 30 years. • Although few of the enacted provisions are specific to Indian Country, several...more

A Tribal Financial Executive’s Guide to Deferred Per Capita Plans

Holland & Knight LLP on 9/14/2015

With the top tax bracket at nearly 40 percent, Indian tribes making substantial per capita distributions are asking what they can do to reduce their members’ tax liabilities. One option to consider is a deferred per capita...more

Top 10 Indian Tribal Tax Developments in 2013 and Priorities for 2014

Holland & Knight LLP on 1/14/2014

In 2013, courts were active in issues relating to Indian tribes, including ruling on state tax matters and the federal income tax aspects of Section 17 corporations. The top 10 Indian tribal tax developments from 2013...more

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Income Taxes › Tribal Governments

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