Farmers Union Cooperative Co. v. Commissioner
United States Board of Tax Appeals
Where a cooperative company under the laws of Nebraska has extensive dealings with nonstockholders and provides in its bylaws that patronage dividends shall be paid only to stockholders and to them "in proportion to the amount of business they have done with corporation during business year", the company is not exempt from income tax.
1Opinion of the Court
FARMERS UNION COOPERATIVE COMPANY, GUIDE ROCK, NEBRASKA, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Farmers Union Cooperative Co. v. Commissioner
Docket No. 64668.
United States Board of Tax Appeals
33 B.T.A. 225; 1935 BTA LEXIS 786;
October 17, 1935, Promulgated
Where a cooperative company under the laws of Nebraska has extensive dealings with nonstockholders and provides in its bylaws that patronage dividends shall be paid only to stockholders and to them "in proportion to the amount of business they have done with corporation during business year", the company is not exempt…
2Cases cited1 opinion
- Farmers Union Cooperative Co. v. CommissionerUnited States Board of Tax Appeals · 1935