Farmers Coop. Creamery v. Commissioner
United States Board of Tax Appeals
Held that article 522 of Regulations 65 is a reasonable interpretation of section 231(11) of the Revenue Act of 1924 and that petitioner is entitled to exemption.
1Opinion of the Court
*266OPINION.
Van Fossan:
The question before us is whether or not petitioner is entitled to exemption under section 231 (11) of the Revenue Act of 1924 and section 231 (12) of the Revenue Act of 1926. The Act of 1924 provides:
Sec. 231. The following organizations shall be exempt from taxation under this title—
*******(11) Farmers’, fruit growers’, or like associations, organized and operated as sales agents for the purpose of marketing the products of members and turning back to them the proceeds of sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by…
2Cited by7 opinions
- Growers Credit Corp. v. CommissionerUnited States Tax Court · 1960
- Farmers Cooperative Co. v. CommissionerUnited States Tax Court · 1985
- Cooperative Grain & Supply Co. v. CommissionerUnited States Tax Court · 1973
- Farmers Coop. Creamery v. CommissionerUnited States Board of Tax Appeals · 1930
- Farmers Cooperative Co. v. CommissionerUnited States Tax Court · 1985
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