Pomeroy Coop. Grain Co. v. Commissioner
United States Tax Court
Petitioner is an Iowa corporation which operated as a farmers' cooperative association. It did not qualify for exemption from Federal income tax, under either section 101 (12) of the 1939 Code or under section 521 of the 1954 Code.
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Petitioner is an Iowa corporation which operated as a farmers' cooperative association. It did not qualify for exemption from Federal income tax, under either section 101 (12) of the 1939 Code or under section 521 of the 1954 Code. During the taxable years involved, it allocated patronage dividends to its members only, out of compensation that it had received from the Commodity Credit Corporation (not a member of the cooperative), for handling and storing grain which producers of such grain (including both members and nonmembers) had surrendered to said agency at petitioner's elevator, in…
1Opinion of the Court
Pierce, Judge:
Respondent determined deficiencies in petitioner’s income taxes as follows:
Year ended June SO Deficiency
1953 _$1,191.96
1954 _ 4,159.00
1955 _ 6,211.09
The issues for decision are whether the petitioner, a non-tax-exempt farmers’ cooperative association, is entitled to exclude from its gross income, as part of its “patronage dividends,”1 amounts allocated for credit and subsequent distribution to its “members” only, out of the following:(1) Compensation received by petitioner from the Commodity Credit Corporation (not a member of the cooperative), for handling and storing grain…
2Cases cited6 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Farmers Cooperative Co. v. BirminghamDistrict Court, N.D. Iowa · 1949
- FRUIT GROWERS'SUPPLY CO. v. Commissioner of Int. Rev.Court of Appeals for the Ninth Circuit · 1932
- Co-Operative Oil Ass'n v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1940
- Southwest Hardware Co. v. CommissionerUnited States Tax Court · 1955
1 more not listed; retrieve them via the Exa API.
3Cited by39 opinions
- Pomeroy Cooperative Grain Company v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1961
- United States v. Mississippi Chemical CompanyCourt of Appeals for the Fifth Circuit · 1964
- Rio Grande Bldg. & Loan Ass'n v. CommissionerUnited States Tax Court · 1961
- Puget Sound Plywood, Inc. v. CommissionerUnited States Tax Court · 1965
- Anaheim Union Water Co. v. CommissionerUnited States Tax Court · 1961
34 more not listed; retrieve them via the Exa API.