 | Robert Hiester Montgomery - 1920 - 1304 pages
...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... | |
 | Prentice-Hall Inc - 1919 - 640 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... | |
 | United States. Bureau of Internal Revenue - 1920 - 346 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... | |
 | George Edwin Holmes - 1920 - 1186 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... | |
 | United States. Internal Revenue Service - 1921 - 348 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... | |
 | Joseph Bernard Kenkel - 1922 - 196 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... | |
 | United States. Internal Revenue Service - 1924 - 396 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... | |
 | United States. Bureau of Labor Statistics - 1924 - 1546 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 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... | |
 | Joseph Henry Beale, Roswell Foster Magill - 1926 - 744 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... | |
 | Gerald McFadden Francis - 1926 - 136 pages
...no more than necessary selling expenses, it may on this point be exempt from income tax. 7 However, "if the proceeds of the business are distributed in any other way than on such proportionate basis, or if the association deducts more than necessary selling expenses, it does not... | |
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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. 
