In the first of this two-part series, we'll discuss why choosing a business structure is important to tribal economic development, with a focus on Section 17-Federal Law Corporations and why they may or may not be a good vehicle for your tribe.
Over 70 years ago, in Section 17 of the Indian Reorganization Act of 1934, Congress provided a tool for Indian tribal governments to conduct business “in the modern world” by authorizing the Department of Interior to issue federal corporate charters to Indian tribes. Many tribes have taken advantage of this provision in federal law for various purposes, including operating companies, holding companies, insurance companies and investment entities. Section 17 corporations have many advantages, including certainty of federal tax treatment, limitation of liability, sovereign immunity (unless specifically waived), favorable tax treatment (in most states) and effective segregation of liability.
In this session, you will learn :
The webinar will use NAFOA's Tribal Business Structure Handbook as a guide.