Maple Leaf Farms, Inc. v. Commissioner
United States Tax Court
Held, since petitioner participated sufficiently in the process and risk of loss involved in growing ducks, it qualifies as a farmer within the meaning of sec. 1.471-6(a), Income Tax Regs., and therefore is entitled to file its income tax returns on the cash receipts and disbursements method of accounting.
1Opinion of the Court
Tannenwald, Judge:
Respondent determined the following deficiencies in petitioner’s Federal income tax:
TYENov.30— Amount
1967_ $240,921.60
1968_ 82,394.01
1969_ 154,122.63
Other issues having been settled, the only issue for our determination is whether petitioner is a farmer, as opposed to a processor, and is therefore entitled to report its income by the cash receipts and disbursements method instead of the accrual method of accounting in accordance with section 1.471-6(a), Income Tax Regs.1
FINDINGS OF FACT
Certain facts have been stipulated and are found accordingly. The stipulation of facts and…
2Cases cited11 opinions
- United States v. CattoSupreme Court of the United States · 1966
- Auburn Packing Co. v. CommissionerUnited States Tax Court · 1973
- Garth v. CommissionerUnited States Tax Court · 1971
- Stokes v. CommissionerUnited States Tax Court · 1954
- Hi-Plains Enterprises, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1974
6 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Van Raden v. CommissionerUnited States Tax Court · 1979
- Packard v. CommissionerUnited States Tax Court · 1985
- Duggar v. CommissionerUnited States Tax Court · 1978
- Rocco, Inc. v. CommissionerUnited States Tax Court · 1979
- Kennedy v. CommissionerUnited States Tax Court · 1987
15 more not listed; retrieve them via the Exa API.