Farmers Union State Exchange v. Commissioner

1. The Farmers Educational and Cooperative State Union of Nebraska, a cooperative organization under the laws of Nebraska, having no capital stock; its members being members of local cooperative groups who, except for a negligible number, were working farmers; its income being principally from fees and dues of its members; its purposes being to instruct and educate the agricultural classes in scientific farming, classification of crops, domestic economy, and processes of marketing, to systematize the methods of production and distribution, and to assist its members in cooperative buying and…