Field Att’y. Adv. 20103101F (Oct. 23, 2009)

(non-exempt cooperative not entitled to patronage dividend deductions claimed for amounts paid to members out of earnings that are not attributable to corn purchases made pursuant to purchase contracts with members or for amounts paid for corn purchases that exceed members’ committed bushels; cooperative’s primary asset is investment in ethanol plant LLC which is the cooperative’s wholly owned subsidiary). 

CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.

RSS​ Facebook Twitter