December 16, 17, and 18 at 1:00 pm – 4:00 pm Eastern
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The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) have issued a Notice of Proposed Rulemaking (NPRM) regarding the tax status of wholly owned Tribal entities. Additionally, Treasury announced it will hold Tribal consultations on the proposed rule on December 16, 17, and 18, 2024, at 1 p.m. ET.

This proposed rule describes that Tribal entities chartered or organized by one or more Tribes have the tax status of their owning Tribes. This means that these Tribal entities will not be subject to income tax. Further, the rule describes that these Tribal entities will be eligible for certain Inflation Reeducation Act tax credits through a payment mechanism known as elective pay. To learn more about the proposed rule, please see Treasury’s Press Release, the Tribal Consultation and Federal Feedback Summary, Dear Tribal Leader Letter, and our Fact Sheet.

Additionally, the Harvard Kennedy School Project on Indigenous Governance and Development issued a policy brief discussing the proposed rule.