FARMERS COOPERATIVE CO. v. COMMISSIONER

Docket No. 68637.

22 T.C.M. 183 (1963)

T.C. Memo. 1963-43

Farmers Cooperative Company, a Corporation v. Commissioner.

United States Tax Court.

Filed February 19, 1963.


Attorney(s) appearing for the Case

Robert C. Guenzel, Esq., and James M. Stewart, Esq., 707 Central National Bldg., Des Moines, Ia., for the petitioner. Ivan L. Onnen, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

MULRONEY, Judge:

The respondent determined deficiencies in petitioner's income tax for its taxable years ended March 31, 1953, March 31, 1954 and March 31, 1955 in the respective amounts of $1,128.32, $2,129.11 and $1,740.85.

Petitioner is a nonexempt cooperative corporation and the issues to be determined relate to amounts it is entitled to exclude from gross income as patronage dividends. One of the issues...

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