American Box Shook Export Asso. v. Commissioner
United States Tax Court
The petitioner was organized under the general corporation laws of California. Neither its articles of incorporation nor its bylaws nor any contract required that amounts received in excess of cost be distributed to its members on a patronage basis. No amounts were distributable except upon action by the board of directors.
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The petitioner was organized under the general corporation laws of California. Neither its articles of incorporation nor its bylaws nor any contract required that amounts received in excess of cost be distributed to its members on a patronage basis. No amounts were distributable except upon action by the board of directors. Held, (1) petitioner is not a true cooperative and is subject to tax upon its income; (2) petitioner is not entitled to a deduction for amounts actually distributed during the year.
1Opinion of the Court
American Box Shook Export Association, Petitioner, v. Commissioner of Internal Revenue, Respondent
American Box Shook Export Asso. v. Commissioner
Docket No. 777
United States Tax Court
4 T.C. 758; 1945 U.S. Tax Ct. LEXIS 230;
February 12, 1945, Promulgated
Decision will be entered under Rule 50.
The petitioner was organized under the general corporation laws of California. Neither its articles of incorporation nor its bylaws nor any contract required that amounts received in excess of cost be distributed to its members on a patronage basis. No amounts were distributable except upon action by the…
2Cases cited1 opinion
- American Box Shook Export Asso. v. CommissionerUnited States Tax Court · 1945