State v. De Kalb County Exchange, Inc.

SIMPSON, Justice.

There is but one question of consequence in this case and that is whether a mutual farming or trucking cooperative association, organized without capital stock, is amenable to the share of stock tax provisions of § 25, Title 51, Code of 1940.

The answer is no. The appellee cooperative was organized pursuant to the provisions of Title 2 of the Code, authorizing such a corporation without capital stock, and the statute nor its charter can be subverted so as to make it a stock company.

The Commissioner of Revenue made a purported assessment for taxation on certain reserve funds of…