Joplin v. Commissioner
United States Tax Court
Petitioners William A. Joplin, Jr., Joseph F. Kohn and S. Crews Reynolds were members of a tax exempt farmers' marketing cooperative corporation, reporting their income on the cash receipts and disbursements basis of accounting.
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Petitioners William A. Joplin, Jr., Joseph F. Kohn and S. Crews Reynolds were members of a tax exempt farmers' marketing cooperative corporation, reporting their income on the cash receipts and disbursements basis of accounting. In the taxable years involved, the net earnings of the cooperative were allocated and distributed to its members in the form of credits to its capital reserve account and the issuance of certificates of its preferred stock having a par value of $ 25 per share. Held, petitioners received and realized income upon the receipt of the certificates of preferred stock to the…
1Opinion of the Court
William A. Joplin, Jr., and Louella L. Joplin et al., Petitioners, 1 v. Commissioner of Internal Revenue, Respondent
Joplin v. Commissioner
Docket Nos. 31489, 31490, 31491, 31492, 31493
United States Tax Court
17 T.C. 1526; 1952 U.S. Tax Ct. LEXIS 245;
March 19, 1952, Promulgated
Decisions will be entered under Rule 50.
Petitioners William A. Joplin, Jr., Joseph F. Kohn and S. Crews Reynolds were members of a tax exempt farmers' marketing cooperative corporation, reporting their income on the cash receipts and disbursements basis of accounting. In the taxable years involved, the net earnings of the…
2Cases cited4 opinions
- Harbor Plywood Corp. v. CommissionerUnited States Tax Court · 1950
- Colony Farms Cooperative Dairy, Inc. v. CommissionerUnited States Tax Court · 1951
- Caswell v. CommissionerUnited States Tax Court · 1952
- Joplin v. CommissionerUnited States Tax Court · 1952