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Recent Federal Income Tax Changes Affecting Farmer Cooperatives

Author

Listed:
  • Waas, George J.

Abstract

Excerpts from the report: Supplement No. 1 to Farm Credit Administration Miscellaneous Report 156, Recent Federal Income Tax Changes Affecting Cooperatives, (Revised June 4, 1952) reported an amendment to Income Tax Regulations 111 by the Commissioner of Internal Revenue. This covered the reporting of certain patronage dividends to the Commissioner annually on Information Returns (Internal Revenue Forms 1096 and 1099). Affected by that amendment were all kinds of cooperatives, including farmers' associations which are exempt from Federal income taxation, as well as those not so exempt (but excluding rural electrification cooperatives and certain mutual insurance companies). This report which in effect is a revision of Supplement No. 2 to Miscellaneous Report 156 covers the Commissioner of Internal Revenue's amendment to Regulations 111 concerning administrative details of the income tax treatment of exempt cooperatives, and of the patrons of all farmers' marketing and purchasing cooperatives.

Suggested Citation

  • Waas, George J., 1954. "Recent Federal Income Tax Changes Affecting Farmer Cooperatives," Farmer Cooperative Research Report (FCRR) 314657, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersfc:314657
    DOI: 10.22004/ag.econ.314657
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