Treasury Regulations (26 C.F.R.)
26 CFR § 1.1381-2
Tax on certain farmers' cooperatives.
# (a) In general.
(1) For taxable years beginning after December 31, 1962, farmers', fruit growers', or like associations, organized and operated in compliance with the requirements of section 521 and § 1.521-1, shall be subject to the taxes imposed by section 11 or section 1201. Although such associations are subject to both normal tax and surtax, as in the case of corporations generally, certain special deductions are provided for them in section 1382(c) and § 1.1382-3. For the purpose of any law which refers to organizations exempt from income taxes such an association shall, however, be considered as an organization exempt under section 501. Thus, the provisions of section 243, providing a credit for dividends received from a domestic corporation subject to taxation, are not applicable to dividends received from a cooperative association organized and operated in compliance with the requirements of section 521 and § 1.521-1. The provisions of section 1501, relating to consolidated returns, are likewise not applicable.
(2) Rules governing the manner in which amounts paid as patronage dividends are allowable as deductions in computing the taxable income of such an association are set forth in section 1382(b) and § 1.1382-2. For the tax treatment, as to patrons, of amounts received during the taxable year as patronage dividends, see section 1385 and the regulations thereunder.
# (b) Cross references.
For tax treatment of exempt cooperative associations for taxable years beginning before January 1, 1963, or for taxable years beginning after December 31, 1962, with respect to payments attributable to patronage occurring during taxable years beginning before January 1, 1963, see section 522 and the regulations thereunder. For requirements of annual returns by such associations, see sections 6012 and 6072(d) and paragraph (f) of § 1.6012-2.
[T.D. 6643, 28 FR 3153, Apr. 2, 1963]
Source: view the official text
In this part (40 sections)
- 1.1371-2 · Impact of Audit PTTP on ETSC Period.
- 1.1374-0 · Table of contents.
- 1.1374-1 · General rules and definitions.
- 1.1374-2 · Net recognized built-in gain.
- 1.1374-3 · Net unrealized built-in gain.
- 1.1374-4 · Recognized built-in gain or loss.
- 1.1374-5 · Loss carryforwards.
- 1.1374-6 · Credits and credit carryforwards.
- 1.1374-7 · Inventory.
- 1.1374-8 · Section 1374(d)(8) transactions.
- 1.1374-9 · Anti-stuffing rule.
- 1.1374-10 · Effective date and additional rules.
- 1.1375-1 · Tax imposed when passive investment income of corporation…
- 1.1377-0 · Table of contents.
- 1.1377-1 · Pro rata share.
- 1.1377-2 · Post-termination transition period.
- 1.1377-3 · Applicability dates.
- 1.1378-1 · Taxable year of S corporation.
- 1.1374-1A · Tax imposed on certain capital gains.
- 1.1381-1 · Organizations to which part applies.
- 1.1381-2 · Tax on certain farmers' cooperatives.
- 1.1382-1 · Taxable income of cooperatives; gross income.
- 1.1382-2 · Taxable income of cooperatives; treatment of patronage…
- 1.1382-3 · Taxable income of cooperatives; special deductions for…
- 1.1382-4 · Taxable income of cooperatives; payment period for each…
- 1.1382-5 · Taxable income of cooperatives; products marketed under…
- 1.1382-6 · Taxable income of cooperatives; treatment of earnings…
- 1.1382-7 · Special rules applicable to cooperative associations exempt…
- 1.1383-1 · Computation of tax where cooperative redeems nonqualified…
- 1.1385-1 · Amounts includible in patron's gross income.
- 1.1388-1 · Definitions and special rules.
- 1.1394-0 · Table of contents.
- 1.1394-1 · Enterprise zone facility bonds.
- 1.1396-1 · Qualified zone employees.
- 1.1397E-1 · Qualified zone academy bonds.
- 1.1398-1 · Treatment of passive activity losses and passive activity…
- 1.1398-2 · Treatment of section 465 losses in individuals' title 11…
- 1.1398-3 · Treatment of section 121 exclusion in individuals' title 11…
- 1.1400L(b)-1 · (b)-1 Additional first year depreciation deduction for…
- 1.1400Z2-0 · Table of Contents.