Gallatin Farmers Co. v. Shannon

This is an action brought to recover corporation license taxes paid under protest for the years 1935 and 1936. The cause was tried on an agreed statement of facts.

In its license tax return for the year 1935 plaintiff in computing its net income claimed an allowable deduction in the sum of $10,435.68, paid as “uniform dividends upon purchases of patrons”; it claimed a like deduction for the year 1936 in the sum of $22,000, and also claimed an additional allowance for the year of $1,132, for a six per cent, dividend on the paid-up capital stock pursuant to the provisions of section 6387,…