Laws, Regulations & Annotations

I

525.0000 INDIANS AND INDIAN LANDS

Annotation 525.0003

525.0003 Bingo Management Agreement. An agreement between an Indian tribe and a business concern hiring the latter as a "management consultant" to oversee a bingo game operation on tribal land results in a taxable possessory interest if the agreement provides the "consultant" the right to use Indian property on a sufficiently exclusive, durable and independent basis and results in a private benefit, i.e., an opportunity to make a profit to the "consultant". The terms of the agreement, not the label assigned to the person or firm hired, determine whether or not a possessory interest has been created. C 7/27/1993.