FOR IMMEDIATE RELEASE
January 30, 2019
Calista Corporation Providing Tax Documents to Shareholders
(Anchorage, Alaska) – Calista Corporation is providing information to Shareholders regarding IRS dividend and distribution reporting.
All Calista Corporation Class A, B, C and D dividends are currently non-taxable. Calista Shareholders who received over $10 in 2018 dividends will receive a 1099-DIV with Box 3 checked (Box 3 indicates non-taxable Return of Capital). This 1099 should match April 2018 dividend payments.
All ANCSA 7(i) revenue sharing are only for Class B shares (“At-Large” shares). These distributions continue to be taxable. Class B Shareholders who received over $600 in 2018 7(i) revenue sharing will receive a 1099-MISC. All At-Large payments, irrespective of size, are taxable and should be reported on year-end tax returns.
The two 2018 Calista Corporation Settlement Trust distributions were not taxable and therefore will not generate a Form 1099. In the future, if a Calista Corporation Settlement Trust distribution occurs that is taxable, a Form 1099 will be issued for that distribution.
All 1099 forms will be mailed by January 31, 2019. At-Large Shareholders may receive both forms. Shareholders should consult a tax professional with any questions.
Calista Corporation issued an April 2018 dividend. The Calista Corporation Settlement Trust issued a fall distribution and an Elders’ Benefit payment. The April dividend is based on Shareholders’ Equity for the prior three years. The size of the fall distribution is calculated from the Akilista investment portfolio (an investment portfolio created to provide dividends not reliant on business operations).
Calista Corporation was established under the Alaska Native Claims Settlement Act of 1971 and represents over 28,000 Shareholders. Calista is the parent company of more than 30 subsidiaries in the following industries: military defense contracting, construction, real estate, environmental and natural resource development, and oil field services. Calista can be found on Facebook and Twitter.