Oliver v. United States

HENLEY, Chief Judge.

This litigation involves the 1957 income tax liability of the plaintiff, Donald Oliver, 1 a cash basis taxpayer, who is a rice farmer residing in Arkansas County, Arkansas. Plaintiff produced a rice crop which he harvested and delivered in October and November, 1957, to Producers Rice Mill, Inc., an agricultural cooperative association organized under the provisions of Act 153 of the 1939 Legislature of the State of Arkansas, Ark.Stats.1947, §§ 77-1001 et seq. In 1958 plaintiff received an advance of $17,959.50 on the rice, and he received the net balance of the ultimate…