Standley v. Commissioner
United States Tax Court
P, a dairy farmer, agreed to participate in the Federal Dairy Termination Program (DTP) under which the Government would pay P to cease dairy production for a period of 5 years. P was to be paid based on his milk production. P agreed to cease dairy production, to slaughter or export his dairy animals, and to not allow his farm to be used for dairy purposes.
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P, a dairy farmer, agreed to participate in the Federal Dairy Termination Program (DTP) under which the Government would pay P to cease dairy production for a period of 5 years. P was to be paid based on his milk production. P agreed to cease dairy production, to slaughter or export his dairy animals, and to not allow his farm to be used for dairy purposes. In addition, P was permitted to retain any proceeds he received in exchange for the slaughter or export of his dairy animals. R, in a public notice and on brief, conceded that taxpayers who participated in the DTP could report as capital…
1Opinion of the Court
James Lee Standley and Carla Rae Standley, Petitioners v. Commissioner of Internal Revenue, Respondent
Standley v. Commissioner
Docket No. 12593-90
United States Tax Court
99 T.C. 259; 1992 U.S. Tax Ct. LEXIS 67; 99 T.C. No. 13;
August 18, 1992, Filed
Decision will be entered for respondent.
P, a dairy farmer, agreed to participate in the Federal Dairy Termination Program (DTP) under which the Government would pay P to cease dairy production for a period of 5 years. P was to be paid based on his milk production. P agreed to cease dairy production, to slaughter or export his dairy animals, and to not…
2Cases cited16 opinions
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- United States v. CartwrightSupreme Court of the United States · 1973
- Lyeth v. HoeySupreme Court of the United States · 1938
- Annabelle Candy Co. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1962
- Fono v. CommissionerUnited States Tax Court · 1982
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