Miccosukees - Florida Indian Tribe - lose $1 billion bet with IRS

[packman]

"...each of 600 tribal members receives $120,000 to $160,000 annually as a share of the casino profits, which the government has always said is taxable. That position was cemented by the Indian Gaming Regulatory Act (IGRA) of 1988. Among the spending priorities in IGRA are funding tribal government programs and the general welfare of the tribe — taking care of everyone. If those needs are met, a tribe can then distribute annual payments to tribal members. But the tribe must have a Revenue Allocation Plan, which is approved by the Secretary of the Interior."

Interesting in's and out's on the whole issue of Indian Tribal casinos and if their distribution of profits is taxable.

Read more here: http://www.miamiherald.com/opinion/op-ed/article99907442.html#storylink=cpy

[saidsimplesimon]

1. je'detest gambling

in all forms. How much of the annual take for tribal members is funneled back to the casino in gambling, alcohol and other vices?

I stand with the "rule of law" regarding taxes. Do the wealthy 1% pay their fair share? That is the question, is this a canard?