NAFOA has prepared a template support letter to assist tribes in submitting comments on the U.S. Department of the Treasury’s proposed rule regarding the tax status of wholly owned Tribal entities.
The proposed regulations would clarify the federal income tax status of wholly-owned Tribally chartered entities and expand Tribal access to clean energy tax credits. The current lack of clarity and guidance around the tax status of Tribal entities has been a longstanding issue that has been facing Tribal businesses and economies.
NAFOA’s template emphasizes key provisions of the rule, including support for clean energy tax credit opportunities and the removal of restrictive “integral part” tests, while urging Treasury to provide additional guidance on subsidiary and partially owned entities. Tribes are encouraged to use the template to voice their support and advocate for further clarification to enhance Tribal economic development.
Deadline Extended for Comments
Treasury is extending the deadline for Tribal consultation comments on the Dear Tribal Leader Letter to Tuesday, January 21st, 2025 at 11:59 p.m. Alaska Time. Comments can be submitted via email to tribal.consult@treasury.gov.
Download the Template Letter >>
For questions or concerns, please contact Cory Blankenship, Executive Director, at cory@nafoa.org.
