Legal Opinion
Farm Credit Services of Mid-America v. Indiana Department of State Revenue
Indiana Tax Court
Decided March 12, 1997No. 45T10-9408-TA-00216PublishedCited by 4 opinions
1Opinion of the Court
FISHER, Judge.
This appeal arises out of the Department of State Revenue’s disallowance of a refund of gross income and franchise taxes paid by Farm Credit Services of Mid-America (“Mid-America”). Mid-America, an Agricultural Credit Association, argues that it is immune from these state taxes because it is a federal instrumentality. This Court agrees.
FACTS AND BACKGROUND
The Farm Credit System is a nationwide network of cooperative, borrower-owned banks and local lending associations providing affordable credit to farmers and ranchers. 12 U.S.C.A § 2001 (West 1989). The network was designed to…
2Cases cited10 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Federal Land Bank of St. Paul v. Bismarck Lumber Co.Supreme Court of the United States · 1941
- Department of Employment v. United StatesSupreme Court of the United States · 1966
- First Agricultural National Bank of Berkshire County v. State Tax CommissionSupreme Court of the United States · 1968
- Federal Land Bank v. PriddySupreme Court of the United States · 1935
5 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Farm Credit Services of Mid-America v. Department of State RevenueIndiana Tax Court · 1999
- Indiana Sugars, Inc. v. State Board of Tax CommissionersIndiana Tax Court · 1997
- Indiana Department of State Revenue v. Farm Credit Services of Mid-AmericaIndiana Supreme Court · 2000
- Indiana Department of State Revenue v. Farm Credit Services of Mid-AmericaIndiana Supreme Court · 2000