Cite as: 68 CNCA § 1203

There is hereby levied and assessed a franchise or excise tax upon every corporation, association, joint-stock company and business trust organized under the laws of Cherokee Nation, equal to One Dollar and Twenty-Five Cents ($1.25) for each One Thousand Dollars ($1,000.00) or fraction thereof of the amount of capital used, invested or employed in the exercise of any power, privilege or right inuring to such organization, within Cherokee Nation; it being the purpose of this section to require the payment to Cherokee Nation of this tax for the right granted by the laws of Cherokee Nation to exist as such organization and enjoy, under the protection of the laws of Cherokee Nation, the powers, rights, privileges and immunities derived from Cherokee Nation by reason of the form of such existence. Provided however, the franchise or excise tax described under this act shall not be imposed on corporations which comply with the Indian preference requirements of 40 CNCA § 301 et seq.

Historical Data

LA 14–96, eff. July 15, 1996.