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How to report CIRI dividends
on your tax forms
With shareholder 1099s scheduled to be mailed on January 31, the following information will help you get a head start on your tax returns.
In 1999, CIRI paid a total of $25 per share (or $2,500 per 100 shares) in dividends to shareholders. These dividends will be shown in Box 13 of your CIRI 1099MISC form. If you received more than $400 in total dividends from CIRI and other corporations, those dividends should be reported as ordinary dividends on Schedule B of your 1040 tax form. If you received less than $400 in total dividends, you need only report them as dividend income on page one of your 1040 tax form.
In addition to dividends, at-large shareholders received $1.2785 per share (or $127.85 per 100 shares) in a 7(j) resource revenue payment. If you are an at-large shareholder, your 7(j) payment will be shown in Box 3 of your CIRI
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1099MISC form. This amount should be reported as "Other income not subject to self-employment tax" (this would be the same line on which your Alaska Permanent Fund dividend is reported). Resource revenue payments for village shareholders are paid to their village corporation. CIRI does not report these amounts as income to the shareholder.
Please note that the resource revenue payment is not a dividend and is not considered investment income. Rather, it is a sharing of resource revenue among the 12 regional corporations as required by the Alaska Native Claims Settlement Act. This can be an important distinction in some situations.
For example, tax laws do not permit anyone who received more than $2,350 in interest, dividends and certain other investment income in 1999 to get the Earned Income Credit. During 1999, a CIRI at-large shareholder owning 90 shares of stock would have received:
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Dividends
(90 shares x $25.00/share) $2,250.00
Resource Revenue
(90 shares x $1.2785/share) 115.07
Total
$2,365.07
In this case, even though the total dollar amount received from CIRI was $2,365.07, or $15.07 over the Earned Income Credit limit, this total includes $115.07 in resource revenues. Because resource revenue payments are neither dividends nor investment income, they should be excluded from the total for purposes of calculating eligibility for the Earned Income Credit.
Therefore, in the above example, only $2,250 should be considered when determining eligibility for the Earned Income Credit.
If you use
a tax preparer, please share this information with him or her. If you
have further questions, please contact the Shareholder Relations Department
at 907-274-8638 or by calling toll free at 1-800-764-2474. continued
on page 8
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pampering services
and amenities in a truly breathtaking environment," said Mark Heinzelman,
the Hyatt hotel's general manager.
The entrance to Japengo, a specialty
restaurant overlooking the lake.
The 496-room Hyatt Regency Lake Las Vegas Resort features a Moroccan-inspired design with two-story arched windows and deep loggias to create an open-air, Mediterranean atmosphere. The resort is designed to offer business and leisure travelers luxury accommodations and first-class amenities in the relaxed sophistication of a one-of-a-kind resort setting.
The Hyatt Regency Lake Las Vegas Resort also caters to meetings, conferences and special events in 40,000 square feet of indoor function space, including a 21,330-square-foot ballroom with a 24-foot ceiling and five mid-size meeting rooms. Multiple courtyards and terraces, lavish pool decks, lush gardens and an open-air pavilion and lawn area provide an additional 70,000 square feet of function space ideal for outdoor events.
The Hyatt's design, landscaping and furnishings reflect the character and natural history of its desert surroundings. The resort includes:
* Two landscaped swimming pools;
* Palm-shaded terraces;
* A state-of-the-art fitness center and spa with nine treatment rooms;
* A full-service beauty salon and an aerobics studio;
* An elegant European-style casino with two-story windows overlooking the lake;
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* Camp Hyatt, Hyatt's renowned program for children;
* And a variety
of dining options.
 A view of Lake Las Vegas from the Hyatt Regency Lake Las Vegas Resort.  A
grand opening celebration was recently held to officially introduce
the property to the community and garner national media attention. The
celebration featured a pyrotechnics show, water skiing exhibition by
the Stars of Florida, and a Moroccan marketplace. Representatives from
CIRI's board and executive staff were among other business partners,
members of the community, and the media for this special event.
For reservations
or information, call Hyatt reservations at (800) 55-HYATT or visit www.hyatt.com.
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