Alaska Native Settlement Trust


Also found in: Acronyms.

Alaska Native Settlement Trust

A trust set up under Alaska and federal law whose beneficiaries are the stockholders of an Inuit or other Native-owned corporation. For example, a trust may be set up to provide educational scholarships for qualified persons. Trustees must be individuals and may not be corporations or banks. Alaska Native Settlement Trusts are eligible for favorable tax treatment.
Mentioned in ?
References in periodicals archive ?
The author believes the new legislation offers solutions to most of the tax issues that have arisen in recent years concerning Alaska Native settlement trusts, and predicts the new legislation will provide an incentive both for creating more settlement trusts and for contributing more assets to existing trusts.
Part II is an overview of the federal and state non-tax law governing Alaska Native settlement trusts, providing a context in which settlement trusts can be better understood.
The IRS has issued a total of 22 private letter rulings (57) concerning various aspects of the application of the federal tax law to Alaska Native settlement trusts.

Full browser ?