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" If the proceeds of the business are distributed in any other way than on such a proportionate basis, the association does not meet the requirements of the Act and is not exempt. "
Cases Decided in the United States Court of Claims - Page 162
by United States. Court of Claims - 1939
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Income Tax Procedure

Robert Hiester Montgomery - Excess profits tax - 1920
...the quantity of milk or butter fat in the milk furnished by such members, are exempt from the tax. If the proceeds of the business are distributed in...other way than on such a proportionate basis, the company will be subject to tax. A farmers' association is not exempt from taxation where in accounting...
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Regulations 45 Relating to the Income Tax and War Profits and Excess Profits ...

United States. Office of Internal Revenue - Excess profits tax - 1920 - 335 pages
...the quantity of milk or of butter fat in the milk furnished by such members, are exempt from the tax. If the proceeds of the business are distributed in...other way than on such a proportionate basis, the company will bs bject to tax. A farmers' association is not exempt from taxa>n where in accounting...
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Federal Income Tax, War-profits and Excess-profits Taxes: Including Stamp ...

George Edwin Holmes - Excess profits tax - 1920 - 1151 pages
...the quantity of milk or of butter fat in the milk furnished by such members, are exempt from the tax. If the proceeds of the business are distributed in...other way than on such a proportionate basis, the company will be subject to tax.88 Corporations Owned by Exempt Corporations (twelfth class). Corporations...
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Regulations 45 (1920 Ed.) Relating to the Income Tax and War Profits and ...

United States. Internal Revenue Service - Excess profits tax - 1921 - 342 pages
...the quantity of milk or of butter fat in the milk furnished by such members, are exempt from the tax. If the proceeds of the business are distributed in...other way than on such a proportionate basis, the company will be subject to tax. A farmers' association is not exempt from taxation where in accounting...
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The Cooperative Elevator Movement: A Study in Grain Marketing at Country ...

Joseph B.. Kenkel - Agriculture, Cooperative - 1922 - 155 pages
...stock association and on the other hand, the specific provision that "if the proceeds of the businss are distributed in any other way than on such a proportionate basis, the company will be subject to tax,"22 will have a strong tendency for companies to organize as cooperative...
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Regulations 65 Relating to the Income Tax Under the Revenue Act of 1924

United States. Internal Revenue Service - Income tax - 1924 - 363 pages
...quantity of milk or of butter fat in the milk furnished by such producers, are exempt from the tax. If the proceeds of the business are distributed in...association does not meet the requirements of the statute and is not exempt. The accumulation and maintenance of a reasonable reserve for depreciation...
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Monthly Labor Review, Volume 17

United States. Bureau of Labor Statistics - Labor - 1924
...the quantity of milk or of butter fat in the milk furnished by such members, are exempt from the tax. If the proceeds of the business are distributed in any other way than on such a proportionate basis, or if the association deducts more than necessary selling expenses, it does not meet (he requirements...
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Income Tax Procedure

Robert Hiester Montgomery - Excess profits tax - 1923
...the quantity of milk or of butter fat in the milk furnished by such members, are exempt from the tax. If the proceeds of the business are distributed in any other way than on such a proportionate basis, or if the association deducts more than necessary selling expenses, k does not meet the requirements...
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Regulations 74 Relating to the Income Tax Under the Revenue Act of 1928

United States. Internal Revenue Service - Income tax - 1931 - 491 pages
...quantity of milk or of butter fat in the milk furnished by such producers, are exempt from the tax. If the proceeds of the business are distributed in...meet the requirements of the Act and is not exempt. An association which has capital stock will not for such reason be denied exemption, (1) if the dividend...
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Regulations 77 Relating to the Income Tax Under the Revenue Act of 1932

United States. Bureau of Internal Revenue, United States. Internal Revenue Service - Income tax - 1933 - 423 pages
...quantity of milk or of butter fat in the milk furnished by such producers, are exempt from the tax. If the proceeds of the business are distributed in...meet the requirements of the Act and is not exempt. An association which has capital stock will not for such reason be denied exemption, (1) if the dividend...
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