Cite as: 68 CNCA § 1210

A. In addition to any other statement required by law, each and every corporation, association or organization, as enumerated in 68 CNCA §§ 1201, 1203, and 1204, subject to the provisions of this chapter, shall, during the period of July 1st to August 31st, inclusive, of each year, file with the Cherokee Nation Tax Commission a statement under oath of its president, secretary or managing officer, or managing agent in Cherokee Nation, in such form, including balance sheets as at the close of its last preceding taxable year for which an income tax return was required to be filed, as the Cherokee Nation Tax Commission may prescribe, showing:

1. the amount of its authorized capital stock, interests, certificates, or other evidence of interest or ownership;

2. the amount thereof then paid up;

3. the number of units into which the same is divided;

4. the par value of each unit and the number of such units issued and outstanding;

5. the location of the office or offices;

6. the value of all property owned or used in its business and wherever located;

7. the value of all property owned or used in its business within Cherokee Nation as it existed on the last day of said year;

8. the total amount of all business wherever transacted during said year;

9. the total amount of business transacted within Cherokee Nation during such year;

10. the names of its officers and the residence and post office address of each as the same appear of record on June 30th.

B. If any corporation, association or organization making a return under the provisions of this article has no authorized capital, or if any of its shares of stock or other evidences of interest or ownership have no par value, then such corporation, association or organization shall so state in its return, and shall, in addition thereto, state the book value of its shares of stock or other evidences of interest or ownership. And it shall also, in making its return, make the showing required of all other corporations, associations and organizations; and each foreign corporation shall state the name of its registered agent in Cherokee Nation.

C. A corporation or organization subject to the tax levied by 68 CNCA § 1203 or 1204 for which the computation of capital employed in Cherokee Nation equals or exceeds Sixteen Million Dollars ($16,000,000.00), shall file a maximum franchise tax return on such form as may be prescribed by the Cherokee Nation Tax Commission.

D. A corporation or organization subject to the tax levied by 68 CNCA § 1203 or 1204 for which the computation of capital employed in Cherokee Nation is Eight Thousand Dollars ($8,000.00) or less shall file a minimum franchise tax return on such form as may be prescribed by the Cherokee Nation Tax Commission.

E. The Cherokee Nation Tax Commission shall prescribe a form for use by corporations or organizations subject to the minimum tax and maximum tax imposed by 68 CNCA § 1205 in order for such corporations or organizations to determine if the value of capital employed in the Cherokee Nation requires filing either a minimum franchise tax return or maximum franchise tax return. If a corporation or organization is required to file either the minimum or maximum franchise tax return, such return shall not be subject to the requirements of subsection (A) of this section and the return shall only contain such information as may be prescribed by the Commission.

Historical Data

LA 14–96, eff. July 15, 1996.