Bullock v. Farmland Industries, Inc.

KEITH, Justice.

The Comptroller of Public Accounts, the Treasurer, and the Attorney General of the State of Texas appeal from a summary judgment which declared that the plaintiff below may not lawfully be required to pay a franchise tax and which ordered a recovery of such taxes and interest thereon paid to the State of Texas under protest.

The principal question presented by the appeal is whether Farmland, a foreign cooperative marketing association, is entitled to exemption from the payment of franchise taxes when its corporate charter contains purpose clauses authorizing activities which…