Eltueg: IRA Section 17 Corporation
Congress created this Tribal business structure when it passed the Indian Reorganization Act of 1934 (IRA).
Advantages
Can issue tax-exempt bonds: Section 17 corporations can issue these debt instruments if the proceeds are used to finance essential governmental services.
Preserves Tribal assets: A Section 17 corporation is wholly owned by the Tribe, but is separate and distinct from the Tribal government. Sovereign immunity removes any Tribal government property and assets from risk.
No federal income taxes: Guided by federal court decisions, the IRS has ruled that Section 17 corporations aren’t required to pay federal income taxes whether they are operated on or off the reservation.
Join Our Team
As we grow, we will need dedicated individuals to carry Eltueg’s mission forward. The perfect career opportunity may be awaiting you!