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Native American
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3. How does the 4013 credit work?
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Answer:
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The 4013 guides the RTM through a process where their federal AGI is modified to include certain specified types of income. This "modified AGI" is then subjected to a predetermined cap and then multiplied by a negotiated percentage to determine the total amount of sales tax refund a RTM can claim that year. That amount may be reduced based upon the number of months the RTM was considered a RTM. E.g., if a member moves into the Agreement Area half way through the year, he or she may only take 6/12ths or one half of the credit.
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