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TEXAS FARM BUREAU v. U.S.

No. 94-50034 Summary Calendar.

53 F.3d 120 (1995)

TEXAS FARM BUREAU, Plaintiff-Appellee Cross-Appellant, v. UNITED STATES of America, Defendant-Appellant Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

June 1, 1995.

Attorney(s) appearing for the Case

Steven W. Parks and Kenneth L. Green, Gary R. Allen, Chief, Appellate Section, Tax Div., Dept. of Justice, Washington, DC, for appellant.

Andy McSwain, Fulbright, Winniford, Bice & Marable, Waco, TX, Sidney Powell, Dallas, TX, for appellee.

Before WISDOM, WIENER and PARKER, Circuit Judges.

WISDOM, Circuit Judge:

This case involves the taxability of income generated by the income-producing activities of a tax-exempt agricultural association. The district court found that the income in question was, in part, non-taxable royalties. We hold that the income in question constituted unrelated business taxable income. Accordingly, we reverse the judgment of the district court and render a judgment in favor of the defendant...

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