Income Tax Treatment of Cooperatives: 

Table of Citations 

Contents 

 Cases .............................................................................................................2 

 Revenue Rulings ............................................................................................9 

 Revenue Procedures....................................................................................13

 Treasury Decisions.......................................................................................13 

 General Counsel Memoranda.......................................................................14 

Private Letter Rulings ...................................................................................14 

 Technical Advice Memoranda ......................................................................18 

 Other Decisions ............................................................................................20 

 Other Authorities...........................................................................................20 

This Table of Citations was prepared by Ashley Lyon, a 2008 legal intern at the National Council of Farmer Cooperatives, to 

accompany Cooperative Information Report 44, Parts 1 through 5, Income Tax Treatment of Cooperatives, by Donald A. Frederick. 

Mr. Frederick, formerly with USDA Rural Development’s Cooperative Programs Division, is now Director of Education for the 

National Society of Accountants for Cooperatives (NSAC). USDA appreciates their work on this document to help people who are 

studying the Federal income tax treatment of cooperatives. 

The Roman numerals (I to V) indicate the volume where the citation occurs and the Arabic numerals refer to the page(s) where the 

item appears. 

A conscious decision was made not to include Internal Revenue Code provisions or Treasury regulations in this document. These 

materials are readily available elsewhere and their inclusion would have made the document needlessly long and complex. 

While many of the older cases and IRS rulings are not readily available, most are included on the NSAC website at 

http://www.nsac.coop in the Electronic Tax Library. 

Contact Dan Campbell, Deputy Director, Public Affairs, USDA Rural Development, at dan.campbell@wdc.usda.gov to order hard 

copies of the Income Tax Treatment of Cooperatives free of charge. The report is also available online on the Cooperative 

Programs website at http://www.rurdev.usda.gov/rbs/pub/cooprpts.htm (scroll down to CIR 44, Parts 1 through 5). 
2 

CASES 

Affiliated Foods, Inc. v. Comm'r, 98-2 U.S.T.C. (CCH) ¶ 50 (5th Cir. 1998), 

 rev’g in part, aff’g in part 72 T.C.M. 1226 (1996) .........................................................................I-42 

Agway, Inc. v. U.S., 524 F.2d 1194 (Ct. Cl. 1975), 1975-2 U.S.T.C. ¶ 9777 .......................III-29, 139, 140 

Agway, Inc. v. U.S., 1981-2 U.S.T.C. ¶ 9700 (Ct. Cl. 1981), aff'd 696 F.2d 1367 

 (Fed. Cir. 1982)....................................................................................................................III-139, 140 

Albany Creamery Ass'n v. U.S., 1951-1 U.S.T.C. ¶ 9526 (D. Ore. 1950)................................................I-95 

Am. Box Shook Exp. Ass'n v. Comm'r, 4 T.C. 758 (1945), aff'd 156 F.2d 629 

 (9th Cir. 1946)..................................................................................................................I-96, II-13 

Anamosa Farmers Creamery Co. v. Comm'r, 13 B.T.A. 907 (1928)...............................................I-91, 102 

Ark. Best v. Comm'r, 800 F.2d 215 (8th Cir. 1986), cert. granted 480 U.S. 930 (1987). ...........II-57, V-12 

Ark. Best v. Comm'r, 485 U.S. 212 (1988)................................................................................II-57, III-146 

Associated Grocers of Ala. v. Willingham, 77 F. Supp. 990 (N.D. Ala. 1948)........................................I-96 

Associated Milk Producers, Inc. v. Comm'r, 

 68 T.C. 729 (1978) ................................................. I-53, II-37, IV-99, V-14, 31, 32, 33, 58, 60, 70, 85 

Astoria Plywood Corp. v. U.S., 1979-1 U.S.T.C. P.9197 

 (D. Ore. 1979)...........................................................................................I-44, II-33, 36, 38, 53, 54, 70 

Atwood Grain & Supply Co. v. Comm'r, 60 TC 412 (1973)...............................................................III-109 

Boyle v. Pasco Growers' Ass'n, 17 P.2d 6, 170 Wash. 516 (1932) .......................................................III-59 

Bradshaw v. Comm'r, 14 T.C. 162 (1950)..............................................................................................I-105 

Brushaber v. Union Pac. R. R. Co., 240 U.S. 1 (1916) ....................................................................I-84, 107 

Buckeye Countrymark v. Comm'r, 103 T.C. 547 (1994), acq., 

 A.O.D. CC-1997-003 (May 2, 1997),........................................................................... V-88, 94, 95, 96 

Buckeye Power v. U.S., 38 Fed. Cl. 154 (1997).............................................................................V-37, 102 

Burley Tobacco Growers' Co-op Ass'n v. Brown, 17 S.W. 2d 1002, 229 Ky. 696 (1929)....................III-59 

Burley Tobacco Growers' Co-op Ass'n v. Tipton, 11 S.W.2d 119, 227 Ky. 297 (1928) ......................III-59 

Burnet v. Sanford & Brooks Co., 282 U.S. 359 (1931) ......................................................................III-110 

Burr Creamery Corp. v. Comm'r, 62 F.2d 407 (9th Cir. 1932) ............................................ I-115, IV-38, 94 
3 

Caldwell Sugars Coop, Inc. v. U.S., 692 F. Supp. 659 (E.D. La. 1988), 

 88-2 U.S.T.C. (CCH) ¶ 9509. ................................................................................................... II-69, 83 

Caswell's Estate v. Comm'r, 211 F.2d 693 (9th Cir. 1954), 

 rev'g, 17 T.C. 1190 (1952).......................................................................................... I-119, 120, III-17 

Cenex v. U.S., 38 Fed.Cl. 331 (1997), aff'd, 156 F.3d 1377 (Fed. Cir. 1998); 

 cert. denied, 525 U.S. 1146 (1999)...........................................................................................V-10, 11 

Cent. Coop. Oil Ass'n v. Comm'r, 32 B.T.A. 359 (1935) ................................................................IV-49, 98 

Certified Grocers of Cal., Ltd. v. Comm'r, 

 88 T.C. 238 (1987)................................ I-42, II-29, 35, 36, 38, 45, 100, 101, 102, IV-97, V-15, 83, 88 

CF Indus., Inc. v. Comm'r, 995 F.2d 101 (7th Cir. 1993)...........................................................I-52, II-9, 46 

Circle K Corp. v. U.S., 23 Cl.Ct. 665 (1991)..........................................................................................V-10 

Colony Farms Coop. Dairy v. Comm'r, 17 T.C. 688 (1951) .....................................I-91, 94, 95, 104, II-13 

Columbus Fruit & Vegetable Coop. Ass’n v. U.S., 7 Cl. Ct. 561 (1985).................................................I-49 

Comm'r v. Carpenter, 219 F.2d 635 (5th Cir. 1955), aff'g, 20 T.C. 603 (1953) ......................... I-120, III-17 

Comm'r v. Liberty Bank & Trust Co., 59 F.2d 320 (1932)..................................................................III-110

Concord Consumer Hous. Coop. v. Comm'r, 89 T.C. 105 (1987) .............................................V-91, 98, 99 

Concord Vill. v. Comm'r, 65 T.C. 142 (1975)........................................................................................V-97 

Conway County Farmers’ Ass’n v. U.S., 588 F.2d 592 (8th Cir. 1978), 

acq. AOD-1991-18 (Oct. 22, 1991)......................................................................................I-38, 48, 49 

Coop. Cent. Exch. v. Comm'r, 27 B.T.A. 17 (1932)........................................................................IV-17, 49 

Coop. Grain & Supply Co. v. Comm'r, 407 F.2d 1158 (8th Cir. 1969), 

 T.C. Memo 1967-132 (1967), rev'g 26 T.C.M. 593 (1967), 

 amended by 32 T.C.M. (CCH) 795 (1973) ...........................................................IV-11, 60, 61, 62, 67 

Coop. Oil Ass'n v. Comm'r, 115 F.2d 666 (9th Cir. 1941) ......................................................................I-99 

Corn Products Refining Co. v. Comm'r, 350 U.S. 46 (1955) ...................................................II-57, III-145 

Cotter & Co. v. U.S., 765 F.2d 1102 (Fed. Cir. 1985), rev'g, 6 Ct. Cl. 219 (1984), 

 acq., A.O.D. 1986-032 (June 23, 1986) .........................................................I-42, II-35, 36, 40, 43, 44 

Council Bluffs Grape Growers Ass'n v. Comm'r, 44 B.T.A. 152 (1941) .......................................IV-74, 75 

Des Moines County Farm Serv. Co. v. U.S. 324 F. Supp. 1216 (S.D. Iowa 1971), 

aff'd 448 F.2d 776 (8th Cir. 1971). .............................................................................I-123, II-102, 115 
4 

Dr. P. Phillips Coop. v. Comm'r, 15 T.C. 1002, 17 T.C. 1002 (1951).............. ..I-88, 94, 95, 104, IV-27, 31 

Dundee Citrus Growers Ass'n v. Comm'r, 62 T.C.M. (CCH) 879 (1991)........................................ II-45, 46 

Etter Grain Co. v. U.S., 331 F. Supp. 283 (N.D. Tex. 1971), 

 aff'd 462 F.2d 259 (5th Cir. 1972) ................................................................................IV-57, 112, 113 

Eugene Fruit Growers v. Comm'r, 37 B.T.A. 993 (1938)................................................................IV-39, 76 

Farm Credit Servs. of Northwest N.D., ACA, v. Comm'r, 70 T.C.M. (CCH) 655 (1995) ...................V-103 

Farm Serv. Coop. v. Comm'r, 619 F.2d 718 (8th Cir. 1980) ...................... II-28, 29, 56, 102, III-69, 84, 86, 

 .............................................................................................. V-8, 34, 35, 70, 81, 82, 85, 86, 87, 92, 96 

Farmers Coop. Co. of Wahoo v. U.S., 23 F. Supp. 123 (Ct. Cl. 1938)..................................................IV-74 

Farmers Coop. Co. v. Birmingham, 86 F. Supp. 201 (N.D. Iowa 1949) .... I-91, II-10, 13, 17, 18, 85, III-27 

Farmers Coop. Co. v. Comm'r, 288 F.2d 315 (1961) .....................................I-92, I-104, I-105, 122, III-27 

Farmers Coop. Co. v. Comm'r, 33 T.C. 266 (1959)..................................................................................I-92 

Farmers Coop. Co. v. Comm'r, 85 T.C. 601 (1985), rev'd on other grounds, 

 822 F.2 774 (8th Cir. 1987), aqu. AOD-1988-18 (1988).....IV-9, 62, 63, 64, 65, 66, 69, 70, 71, 97, 99 

Farmers Coop. Creamery Ass'n of Cresco, Ia. v. U.S., 1981-1 U.S.T.C. (CCH) 

 ¶ 9457 (N.D. Iowa 1981) ............................................................................................IV-27, 28, 29, 33 

Farmers Coop. Creamery Ass'n v. Comm'r, 21 B.T.A. 265 (1930)......................................................IV-61 

Farmers Mut. Coop. Creamery of Sioux Center, Ia. v. Comm'r, 33 B.T.A. 117 (1935)......IV-55, 56, 74, 75 

Farmers Union Coop. Co. of Guide Rock, Neb. v. Comm'r, 

 90 F.2d 488 (8th Cir. 1937) ................................................................................ I-96, 115, II-18, IV-74 

Farmers Union Coop. Ass'n, Fairbury, Neb. v. Comm'r, 44 B.T.A. 34 (1941) .....................................IV-49 

Farmers Union Coop. Exch. v. Comm'r, 42 B.T.A. 1200 (1940) ......................................I-101, 102, II-102 

Farmers Union Coop. Oil Co. v. Comm'r, 38 B.T.A. 64 (1938) ..................................................I-89, IV-49 

Farmers Union State Exch. v. Comm'r, 30 B.T.A. 1051 (1934) ....................................................I-95, II-13 

Farmland Indus. v. Comm'r, T.C. Memo 1999-388, 

 acq., A.O.D. 2001-03 (2001)................................................................. II-31, 48, 60, 61, 64, V-11, 12 

FCX, Inc. v. U.S., 531 F.2d 515 (Ct. Cl. 1976). ................................................................................... II-115 

Fertile Coop. Dairy Ass'n v. Huston, 119 F.2d 274 (8th Cir. 1941), 

aff'g, 33 F. Supp. 712 (N.D. Iowa 1940)........................................................................II-32, IV-75, 86 
5 

Flint v. Stone Tracy Co., 220 U.S. 107 (1911). ......................................................................................I-106 

Fla. Hosp. Trust Fund v. Comm'r, 71 F.3d 808 (11th Cir. 1996) ......................................................IV-122 

Ford-Iroquois FS, Inc. v. Comm'r, 74 T.C. 1213 (1980) ........I-41, I-53, II-88, 90, V-16, 35, 36, 59, 60, 71 

Fountain City Coop. Creamery Ass'n v. Comm'r, 172 F.2d 666 (7th Cir. 1949), 

 aff'g 9 T.C. 1077 (1947).......................................................................................................I-100, II-14 

Frost v. Corp. Comm'n, 278 U.S. 515 (1929) (dissent). ...........................................................................I-53 

Fruit Growers' Supply Co. v. Comm'r, 21 B.T.A. 315 (1930), 

 aff'd 56 F.2d 90 (9th Cir. 1932) .......................................................................... I-95, 97, IV-12, 38, 98 

FS Servs. v. U.S., 413 F.2d 548 (Ct. Cl. 1969).......................................................................................V-10 

Gallatin Farmers Co. v. Comm'r, 132 F.2d 706 (9th Cir. 1942) ...............................................................I-98

Garden Homes Co. v. Comm'r, 64 F.2d 593 (7th Cir. 1933), rev'g 26 B.T.A. 441 (1932) .............IV-17, 18 

Geauga Landmark, Inc. v. U.S., No. 81-942 (N.D. Ohio, 1985) ..................................................I-49, I-123 

Gold Kist v. Comm'r, 104 T.C. 696 (1995), rev'd 110 F.3d 769 

 (11th Cir. 1997). ................................................................................................III-114, 116, 147, V-53 

Greenvine Corp. v. Comm'r, 40 T.C. 926 (1963) ...............................................................................III-149 

Growers Cold Storage Co. v. Comm'r, 17 B.T.A. 1279 (1929) ..................................................I-102, I-108 

Growers Credit Corp. v. Comm'r, 33 T.C. 981 (1960). .......................................................................IV-122 

Harbor Plywood Corp. v. Comm'r, 14 T.C. 158 (1950), aff'd without opinion, 

 187 F.2d 734 (9th Cir. 1951) .....................................................................................................I-43, 88 

HCSC-Laundry v. U.S., 450 U.S. 1 (1981) .........................................................................................IV-122 

Hillsboro Nat'l Bank v. Comm'r, 460 U.S. 370 (1983)................................................................III-110, 114

Homebuilders Shipping Ass'n v. Comm'r, 8 B.T.A. 903 (1927) ..............................................................I-91 

Iberia Sugar Coop., Inc. v. U.S., 480 F.2d 548 (5th Cir. 1973), 

 1973-1 U.S.T.C. (CCH) ¶ 9465, aff'g 360 F. Supp. 967 (W.D. La. 1972)..... ............................... II-96 

Ill. Grain Corp. v. Comm'r, 87 T.C. 435 (1986), 

 nonacq. A.O.D. 1990-027 (Sept. 24, 1990)......................I-14, II-30, 32, 33, 34, 35, 36, 37, 38, 40, 44 

Indep. Coop. Milk Producers Ass'n v. Comm'r, 76 T.C. 1001 (1981)............... III-34, 35, 37, 55, 74, IV-97 

James W. Salley, Inc. v. U.S., 1976-1 U.S.T.C. ¶ 9443 (W.D. La. 1976). ..........................................III-136 
6 

Juniata Farmers Coop. v. Comm'r, 43 T.C. 836 (1965), 

acq., 1966-1 C.B. 1..................................................................................II-68, 85, 90, IV-80, 66, V-78

Juneau Dairies, Inc. v. Comm'r, 44 B.T.A. 759 (1941). ...............................................................I-16, 98, 99 

Kingfisher Coop. Elevator Ass'n. v. Comm'r, 84 T.C. 600 (1985) ................................II-25, 93, III-24, 131 

Knowlton v. Moore, 178 U.S. 41 (1900) ..................................................................................................I-84 

Lamesa Coop. Gin v. Comm'r, 

 78 T.C. 894 (1982)............................................. II-25, 52, 88, 89, 92, 93, 96, III-131, IV-79, 80, V-71 

Land O'Lakes, Inc. v. U.S., 362 F. Supp. 1253 (D. Minn. 1973), 

 1973-2 U.S.T.C. ¶ 9644, rev'd, 514 F.2d 134 (8th Cir. 1975) ...... III-19, 20, IV-27, 33, 40, 41, 42, 51 

Land O'Lakes, Inc. v. U.S., 675 F.2d 983 (8th Cir. 1982), aff'g in part, 

 rev'g in part, 470 F.Supp. 238 (D. Minn. 1979) ........................................II-15, 48, 49, 97, 103, III-21 

Landmark v. U.S., 25 Cl. Ct. 100 (1992)..........................................................................................V-93, 94 

Laura Farmers Coop. Elevator Co. v. U.S., 273 F. Supp. 1019 (S.D. Ill. 1967)....................................IV-56 

Linnton Plywood Ass'n v. U.S., 236 F. Supp. 227 (D. Ore. 1964) .....................................................I-43, 46 

Linnton Plywood Ass'n v. U.S., 410 F. Supp. 1100 (D. Ore. 1976) .........................................I-43, II-49, 50 

Long Poultry Farms, Inc. v. Comm'r, 249 F.2d 726 (4th Cir. 1957), 

rev'g, 27 T.C. 985 (1957)............................................................................................ I-120, 121, III-17 

M.F.A. Central Coop. v. Bookwalter, 427 F.2d 1341 (8th Cir. 1970), 

rev'g, 286 F. Supp. 956 (E.D. Mo. 1968)...........................................................II-49, III-159, 160, 161 

Marker v. Scotts Bluff County, 289 N.W. 534, 537 (1939) ..................................................................III-90 

Midland Coop. Wholesale v. Comm'r, 44 B.T.A. 824 (1941) ......................... I-91, I-94, 95, 100, 103, II-18 

Miller v. Comm'r, 65 T.C. 612 (1975).................................................................................................... II-21 

Minburn Coop. Elevator v. Comm'r, 18 T.C.M. (CCH) 93 (1959). ............................................... ......II-68 

Miss. Chem. Co. v. U.S., 197 F. Supp. 490 (S.D. Miss. 1961), 

 aff'd 326 F.2d 569 (5th Cir. 1964) ............................................................................................ II-14, 98 

Miss. Chem. Corp. v. Comm'r, 86 T.C. 627 (1986)................................................................................II-98 

Miss. Chem. Corp. v. U.S., 69-1 U.S.T.C. 9266 (S.D. Miss. 1969) ............................................III-160, 161 

Miss. Valley Portland Cement Co. v. U.S., 408 F.2d 827 (5th Cir. 1969), cert. denied, 

 395 U.S. 944 (1969), aff'g 280 F. Supp. 393 (S.D. Miss. 1967)..................................................... II-97 

Nat'l Outdoor Adver. Bureau, Inc. v. Helvering, 89 F.2d 878 (2d Cir. 1937) .......................................IV-17 
7 

Park Place v. Comm'r, 57 T.C. 767 (1972).............................................................................................V-97 

Pasco Packing Ass’n v. U.S., 1957-2 USTC (CCH) 58,049 (So. D. Fla. 1957)..................................III-109 

Penn Yan Agway Coop. v. U.S., 417 F.2d 1372 (Ct. Cl. 1969) ..........................................................III-160 

People's Gin Co. v. Comm'r, 41 B.T.A. 343 (1940), 

 aff'd 118 F.2d 72 (5th Cir. 1941) ....................................................................I-16, 96, 99, II-13, 16, 17 

Petaluma Coop. Creamery v. Comm'r, 52 T.C. 457 (1969).........................................................II-13, IV-61 

Plywood Mktg. Assocs. v. Astoria Plywood Corp., 16 Wash. App. 566, 

 558 P. 2d 283 (1976) ......................................................................................................................V-41 

Pollock v. Farmers' Loan & Trust Co., 157 U.S. 429 (1895) ...................................................................I-85 

Pollock v. Farmers' Loan & Trust Co., 158 U.S. 601 (1895) ...........................................................I-85, 106 

Pomeroy Coop. Grain Co. v. Comm'r, 288 F.2d 326 (1961), 

 rev'g, on other grounds, 31 T.C. 674 (1958) ..................I-94, 97, 104, 122, II-68, 84, 85, 87, V-65, 66 

Producers' Creamery Co. v. U.S., 55 F.2d 104 (5th Cir. 1932) .......................................................IV-74, 75 

Producers Livestock Mktg. Ass'n of Salt Lake City v. Comm'r, 45 B.T.A. 325 (1941)......................... II-21 

Producers Produce Co. v. Crooks, 2 F. Supp. 969 (W.D. Mo. 1932) ..............................................IV-34, 35 

Puget Sound Plywood, Inc. v. Comm'r, 44 T.C. 305 (1965), acq., 1966-2 C.B. 3 .......................I-43, 46, 50 

Putnam Nat'l Bank v. Comm'r, 50 F.2d 158 (1931).............................................................................III-110 

Putoma Corp. v. Comm'r, 66 T.C. 652 (1976), aff'd 601 F.2d 734 (5th Cir. 1979).............................III-111 

Raley v. U.S., 491 F.2d 136 (5th Cir. 1974), 1974-1 U.S.T.C. ¶ 9300................................................III-141 

Reinert v. Cal. Almond Growers Exch., 63 P.2d 1114 (Cal. App. 1936)(unreported); 

 rev'd 70 P.2d 190 (1937)................................................................................................................III-58 

Riverfront Groves v. Comm'r, 60 T.C. 435 (1973)........................................................III-55, 74, 76, 77, 83 

San Joaquin Valley Poultry Producers Ass'n v. Comm'r, 136 F.2d 382 (9th Cir. 1943) ............I-91, 95, 103 

Seiners Ass'n v. Comm'r, 58 T.C. 949 (1972) .............................. I-44, III-17, 22, 23, 26, 30, 31, 47, 48, 75 

Silveria v. Associated Milk Producers, 219 P. 461, 63 Cal. App. 572 (1923).......................................III-58 

Smith & Wiggins Gin, Inc. v. Comm'r, 341 F.2d 341 (5th Cir. 1965), 

 aff'g 37 T.C. 861 (1962)............................................................................................................ II-14, 96 

S.C. Produce Ass'n v. Comm'r, 50 F.2d 742 (4th Cir. 1931), aff'g 19 B.T.A. (1930) ...........................IV-54 
8 

Southwest Hardware Co. v. Comm'r, 24 T.C. 75 (1955)..............................................I-91, 94, 95, 104, 105 

Springer v. U.S., 102 U.S. 586(1881).......................................................................................................I-85 

Squire v. Sumner Rhubard Growers' Ass'n, 184 F.2d 94 (9th Cir. 1950)...............................................I-108 

St. Louis Bank for Coops. v. U.S., 624 F.2d 1041 (Cl. Ct. 1980) ........................................ II-37, 42, 51, 52 

Stevenson Co-Ply, Inc. v. Comm'r, 76 T.C. 637 (1981) .................................................................I-44, II-54 

Stoller v. State, 105 N.W.2d 852 (1960)................................................................................................III-90 

Sumner Rhubarb Growers' Ass'n v. Comm'r, 10 T.C.M. 465 (1951) ..................................................... II-16 

Sunset Scavenger Co. v. Comm'r, 84 F.2d 453 (9th Cir. 1936).......................................................IV-17, 18 

Tax Analysts & Advocates v. Comm'r, 505 F.2d 352 (D.C. 1974) ..........................................................I-39 

Taxation with Representation Fund v. I.R.S., 646 F.2d 666 (D.C. Cir. 1981)..........................................I-41 

Thwaites Terrace House Owners Corp. v. Comm'r, 

 72 T.C.M. (CCH) 578 (1996) ............................................................................ I-52, II-38, V-100, 101 

Tomlinson v. Massey, 308 F.2d 168 (5th Cir. 1962), 1962-2 U.S.T.C. ¶ 9730...................................III-141 

Trego County Coop. Ass'n v. 6 B.T.A. 1275 (1927) ................................................................................I-98 

Trump Vill. Section 3 v. Comm'r, 69 T.C.M. (CCH) 2985 (1995), 

 acq. A.O.D. 1995-011 (Oct. 30, 1995) .......................................................................... I-98, V-99, 100 

TruServ Corp. v. Bess Hardware & Sports, 346 Ill. App. 3d 194 (2004)...............................................V-55 

Twin County Grocers, Inc. v. U.S., 2 Cl. Ct. 657 (1983) ...............................................................I-42, II-43 

Twitchco Inc. v. U.S., 348 F. Supp. 330 (M.D. Ala. 1972) .................................................................III-110 

Union Equity Coop. Exch. v. Comm'r, 58 T.C. 397 (1972), 

 aff'd 481 F.2d 812 (10th Cir. 1973), 1973-2 U.S.T.C. (CCH) ¶ 9534, 

 cert. denied 414 U.S. 1028 (1973).........................................................................II-19, 103, 115, IV-9 

Union Fishermen's Coop. Packing Co. v. Earle, 121 F.Supp. 373 (D. Ore. 1954), 

 1954-1 U.S.T.C. (CCH) ¶ 9366 ...................................................................................................... II-13 

United Coops., Inc. v. Comm'r, 4 T.C. 93 (1944).................................................I-91, 95, 96, 99, 103, II-19 

United Grocers, Ltd. v. U.S., 308 F.2d 634 (9th Cir. 1962), 

 aff'g 186 F. Supp. 724 (N.D. Cal. 1960)............................................. I-42, II-22, 23, III-61, 158, V-36 

U.S. v. Miss. Chem. Co., 326 F.2d 569 (5th Cir. 1964), 1964-1 U.S.T.C. (CCH) ¶ 9181, 

 aff'g 197 F. Supp. 490 (S.D. Miss. 1961), 1961-1 U.S.T.C. (CCH) ¶ 9277. .......................... ..II-17, 18 
9 

U.S. v. Miss. Chem. Corp., 401 U.S. 908 (1971), 405 U.S. 298 (1972)..............................................III-161 

Valparaiso Grain & Lumber Co. v. Comm'r, 44 B.T.A. 125 (1941) ............................................ II-103, 112 

Wash.-Or. Shippers Coop., Inc. v. Comm'r, 52 T.C.M. (CCH) 1406 (1987) ................ I-43, II-38, 45, V-93 

W. Cent. Coop. v. U.S., 607 F. Supp. 1 (N.D. Iowa 1983), 

 aff'd 758 F.2d 1269 (8th Cir. 1985) ...............................................................................................IV-68 

W. Colo. Producers Corp. v. Comm'r, 1 T.C.M. 697 (1943)............................................................ II-15, 32 

REVENUE RULINGS 

Rev. Rul. 53-226, 1953-2 C.B. 500 ........................................................................................................I-121 

Rev. Rul. 54-10, 1954-1 C.B. 24 ........................................................................................ I-119, 124, III-61 

Rev. Rul. 54-12, 1954-1 C.B. 93 ...........................................................................................................IV-49 

Rev. Rul. 54-244, 1954-1 C.B. 104 .......................................................................................................III-61 

Rev. Rul. 54-282, 1954-2 C.B. 126 .....................................................................................................IV-117 

Rev. Rul. 54-297, 1954-2 C.B. 132 ...................................................................................................... II-104 

Rev. Rul. 55-141, 1955-1 C.B. 337 ................................................................................. II-95, III-18, IV-84 

Rev. Rul. 55-230, 1955-1 C.B. 71 .......................................................................................................IV-117 

Rev. Rul. 55-496, 1955-2 C.B. 268 .................................................................................................IV-32, 48 

Rev. Rul. 55-558, 1955-2 C.B. 270 .......................................................................................................IV-43 

Rev. Rul. 55-591, 1955-2 C.B. 553 .....................................................................................................IV-106 

Rev. Rul. 55-611, 1955-2 C.B. 270 ...............................................................................................IV-16, 119 

Rev. Rul. 55-66, 1955-1 C.B. 282 .........................................................................................................III-27 

Rev. Rul. 56-245, 1956-1 C.B. 204 .....................................................................................................IV-117 

Rev. Rul. 57-466, 1957-2 C.B. 311 .....................................................................................................IV-117 

Rev. Rul. 57-59, 1957-1 C.B. 24 ..............................................................................................................I-97 

Rev. Rul. 58-483, 1958-2 C.B. 277 .......................................................................................................IV-33 

Rev. Rul. 59-107, 1959-1 C.B. 20. ......................................................................................................... II-68 

Rev. Rul. 61-47, 1961-1 C.B. 193, revoked by 71-439 ......................................................................I-45, 46 

Rev. Rul. 63-58, 1963-1 C.B. 109 ................................................................................................II-29, V-66 

Rev. Rul. 64-246, 1964-2 C.B. 154 ...............................................................................................IV-16, 119 

Rev. Rul. 65-106, 1965-1 C.B. 126 ........................................................................................................V-27 

Rev. Rul. 65-128, 1965-1 C.B. 432 .......................................................................................................III-48 

Rev. Rul. 65-221, 1965-2 C.B. 320 .....................................................................................III-45, 46, 48, 49 

Rev. Rul. 65-228, 1965-2 C.B. 43 .......................................................................................................III-150 
10 

Rev. Rul. 65-241, 1965-2 C.B. 44 ...............................................................................................III-151, 159 

Rev. Rul. 65-5, 1965-1 C.B. 244 ...........................................................................................................IV-53 

Rev. Rul. 66-98, 1966-1 C.B. 200 .................................................................................................... II-94, 95 

Rev. Rul. 66-105, 1966-1 C.B. 145 .....................................................................................IV-117, 119, 120 

Rev. Rul. 66-108, 1966-1 C.B. 154 .......................................................................................................IV-21 

Rev. Rul. 66-152, 1966-1 C.B. 155 .......................................................................................................IV-84 

Rev. Rul. 66-98, 1966-1 C.B. 200. ...........................................................................................I-43, II-94, 95 

Rev. Rul. 67-128, 1967-1 C.B. 147 .............................................................IV-81, 106, V-28, 29, 66, 67, 79 

Rev. Rul. 67-152, 1967-2 C.B. 147 .................................................................................................IV-31, 47 

Rev. Rul. 67-204, 1967-1 C.B. 149 .................................................................................................IV-58, 71 

Rev. Rul. 67-223, 1967-2 C.B. 214 .................................................................................................IV-49, 49 

Rev. Rul. 67-253, 1967-2 C.B. 214 .............................................................................. IV-78, 81, 111, V-67 

Rev. Rul. 67-265, 1967-2 C.B. 205 .....................................................................................................IV-121 

Rev. Rul. 67-346, 1967-2 C.B. 216 .................................................................................................IV-50, 76 

Rev. Rul. 67-422, 1967-2 C.B. 217, 218 ...................................................................................IV-28, 29, 30 

Rev. Rul. 67-429, 1967-2 C.B. 218 .......................................................................................................IV-17 

Rev. Rul. 67-430, 1967-2 C.B. 220, supersedes I.T. 2720 ....................................................................IV-22 

Rev. Rul. 67-633, 1967-2 C.B. 299 .......................................................................................................III-71 

Rev. Rul. 68-169, 1968-1 C.B. 286 .......................................................................................................IV-57 

Rev. Rul. 68-228, 1968-1 C.B. 385 .............................................................................. II-102, 103, 112, 113 

Rev. Rul. 68-236, 1968-1 C.B. 382 ...........................................................................................III-69, 74, 75 

Rev. Rul. 68-332, 1968-1 C.B. 383 .....................................................................................................IV-104 

Rev. Rul. 68-496, 1968-2 C.B. 251 .......................................................................................................IV-12 

Rev. Rul. 69-222, 1969-1 C.B. 161 .................................................................................................IV-27, 35 

Rev. Rul. 69-282, 1969-1 C.B. 155 .....................................................................................................IV-121 

Rev. Rul. 69-417, 1969-2 C.B. 132 ...........................................................................................IV-45, 50, 76 

Rev. Rul. 69-431, 1969-2 C.B. 133 ...........................................................................IV-75, 86, 87, 104, 105 

Rev. Rul. 69-52, 1969-1 C.B. 161 .........................................................................................................IV-83 

Rev. Rul. 69-575, 1969-2 C.B. 134 .......................................................................................................IV-92 

Rev. Rul. 69-576, 1969-2 C.B. 166 .......................................................................... II-33, 34, 55, 64, 71, 91 

Rev. Rul. 69-621, 1969-2, C.B. 167 .........................................................................................I-99, II-19, 19 

Rev. Rul. 69-651, 1969-2 C.B. 135 ...........................................................................................IV-87, 88, 91 

Rev. Rul. 69-67, 1969-1 C.B. 142 ...............................................................................................III-71, V-30 

Rev. Rul. 70-233, 1970-1 C.B. 180 .....................................................................................................IV-101 

Rev. Rul. 70-249, 1970-1 C.B. 181 ...................................................................................II-91, III-122, 132 
11 

Rev. Rul. 70-25, 1970-1 C.B. 17. ........................................................................................................... II-68 

Rev. Rul. 70-328, 1970-1 C.B. 5 ............................................................................................................V-28 

Rev. Rul. 70-372, 1970-2 C.B. 118 ....................................................................................... IV-118, IV-119 

Rev. Rul. 70-407, 1970-2 C.B. 52 ...................................................................III-93, 143, 148, V-21, 40, 53 

Rev. Rul. 70-420, 1970-2 C.B. 64 ..............................................................................................V-28, 80, 81 

Rev. Rul. 70-481, 1970-2 C.B. 170 ..........................................................................................................I-43 

Rev. Rul. 70-64, 1970-1 C.B. 36 ...............................................................................................III-142, V-40 

Rev. Rul. 70-644, 1970-2 C.B. 167 .....................................................................................................III-149 

Rev. Rul. 71-100, 1971-1 C.B. 159 .......................................................................................................IV-22 

Rev. Rul. 71-430, 1971-2 C.B. 219 .....................................................................................................III-133 

Rev. Rul. 71-439, 1971-2 C.B. 321 ....................................................................................I-44, 46, II-25, 54 

Rev. Rul. 71-493, 1971-2 C.B. 240 .......................................................................................................IV-89 

Rev. Ruls. 71-556, 71-557 ......................................................................................................................I-123 

Rev. Rul. 71-558, 1971-2 C.B. 79, 80, 81 ..............................................................................................I-123 

Rev. Rul. 72-36, 1972-1 C.B. 151 .......................................................................................................IV-121 

Rev. Rul. 72-37, 1972-1 C.B. 152 .......................................................................................................IV-121 

Rev. Rul. 72-384, 1972-2 C.B. 479 .....................................................................................................III-149 

Rev. Rul. 72-391, 1972-2 C.B. 249 .....................................................................................................IV-118 

Rev. Rul. 72-50, 1972-1 C.B. 163 .................................................................................................IV-89, 110 

Rev. Rul. 72-51, 1972-1 C.B. 164 .................................................................................................IV-90, 110 

Rev. Rul. 72-52, 1972-1 C.B. 165 .................................................................................................IV-90, 110 

Rev. Rul. 72-589, 1972-2 C.B. 282 .......................................................................................................IV-28 

Rev. Rul. 72-602, 1972-2 C.B. 510, 511. .....................................................................................I-47, II-103 

Rev. Rul. 73-138, 1973-1 C.B. 293 .......................................................................................................IV-90 

Rev. Rul. 73-148, 1973-1 C.B. 294 .......................................................................................................IV-94 

Rev. Rul. 73-247, 1973-1 C.B. 294 ...................................................................................................... II-105 

Rev. Rul. 73-248, 1973-1 C.B. 295 .................................................................................................IV-61, 95 

Rev. Rul. 73-308, 1973-2 C.B. 193 .................................................................................................IV-16, 19 

Rev. Rul. 73-416, 1973-2 C.B. 304 .....................................................................................................III-149 

Rev. Rul. 73-429, 1973-2 C.B. 205 .....................................................................................................III-149 

Rev. Rul. 73-497, 1973-2 C.B. 314, 134 .......................................................................................... II-37, 41 

Rev. Rul. 73-568, 1973-2 C.B. 194 ...............................................................................................IV-91, 110 

Rev. Rul. 73-570, 1973-2 C.B. 194 .................................................................................................IV-16, 20 

Rev. Rul. 73-570, 1973-2 C.B. 195 .......................................................................................................IV-15 

Rev. Rul. 73-59, 1973-1 C.B. 292 .........................................................................................................IV-76 
12 

Rev. Rul. 73-93, 1973-1 C.B. 292 .........................................................................................................III-19 

Rev. Rul. 74-118, 1974-1 C.B. 134 .....................................................................................................IV-119 

Rev. Rul. 74-160, 1974-1 C.B. 245, 246 ................................................................I-44, II-33, 41, 54, 64, 83 

Rev. Rul. 74-161, 1974-1 C.B. 247 ...................................................................................................... II-102 

Rev. Rul. 74-195, 1974-1 C.B. 135 .............................................................................................IV-118, 120 

Rev. Rul. 74-196, 1974-1 C.B. 140 .....................................................................................................IV-121 

Rev. Rul. 74-20, 1974-1 C.B. 242, 243. ................................................................................................. II-84 

Rev. Rul. 74-24, 1974-1 C.B. 244 .................................................................................................... II-25, 54 

Rev. Rul. 74-274, 1974-1 C.B. 247 ........................................................................................................V-13 

Rev. Rul. 74-327, 1974-2 C.B. 173 .............................................................................................II-26, III-25 

Rev. Rul. 74-377, 1974-2 C.B. 274 ...................................................................................... V-28, 80, 81, 84 

Rev. Rul. 74-488, 1974-2 C.B. 166 ...............................................................................................IV-16, 119 

Rev. Rul. 74-518, 1974-2 C.B. 166 .............................................................................................IV-118, 119 

Rev. Rul. 74-567, 1974-2 C.B. 174 ........................................................................................................ II-95 

Rev. Rul. 74-84, 1974-1 C.B. 244, 245 ..................................................................I-44, II-25, 51, 52, 59, 80 

Rev. Rul. 75-110, 1975-1 C.B. 167 .......................................................................................II-94, IV-77, 78 

Rev. Rul. 75-228, 1975-1 C.B. 278 ................................................................................................ II-33, 105 

Rev. Rul. 75-287, 1975-2 C.B. 211 .....................................................................................................IV-119 

Rev. Rul. 75-388, 1975-2 C.B. 227 ...............................................................................................IV-95, 104 

Rev. Rul. 75-4, 1975-1 C.B. 165 .....................................................................................................IV-27, 37 

Rev. Rul. 75-5, 1975-1 C.B. 166 .....................................................................................................IV-17, 25 

Rev. Rul. 76-233, 1976-1 C.B. 173 ...............................................................................IV-41, 43, 44, 85, 92 

Rev. Rul. 76-298, 1976 C.B. 180...........................................................................................................IV-23 

Rev. Rul. 76-388, 1976-2 C.B. 180 ...........................................................................................IV-35, 42, 77 

Rev. Rul. 76-399, 1976-2 C.B. 152 .....................................................................................................IV-119 

Rev. Rul. 77-153, 1977-1 C.B. 147 .....................................................................................................IV-120 

Rev. Rul. 77-168, 1977-1 C.B. 248 .............................................................................................III-149, 150 

Rev. Rul. 77-384, 1977-2 C.B. 198 .......................................................................................................IV-23 

Rev. Rul. 77-440, 1977-2 C.B. 199 .................................................................................................IV-68, 70 

Rev. Rul. 78-434, 1978-2 C.B. 179 .....................................................................................................IV-122 

Rev. Rul. 79-45, 1979-1 C.B. 284 .................................................................II-25, 66, 91, 92, III-131, V-16 

Rev. Rul. 81-103, 1981-1 C.B. 447 .......................................................................................III-92, 93, V-45 

Rev. Rul. 81-59, 1981-1 C.B. 334 .......................................................................................................IV-120 

Rev. Rul. 81-60, 1981-1 C.B. 335 .......................................................................................................IV-116 

Rev. Rul. 81-96, 1981-1 C.B. 360 .........................................................................................................IV-23 
13 

Rev. Rul. 82-76, 1982-1 C.B. 118 ........................................................................................................ II-102 

Rev. Rul. 83-135, 1983-2 C.B. 149, 150 ..................................................................................................I-87 

Rev. Rul. 83-170, 1983-2 C.B. 97 .......................................................................................................IV-121 

Rev. Rul. 84-81, 1984-1 C.B. 135 .............................................................................................IV-15, 17, 91 

Rev. Rul. 85-126, 1985-2 C.B. 5 ............................................................................................................V-28 

Rev. Rul. 89-97, 1989-2 C.B. 217 ......................................................................................................... II-69 

Rev. Rul. 90-36, 1990-1 C.B. 59 ............................................................................................................V-99 

Rev. Rul. 90-42, 1990-1 C.B. 117 .........................................................................................................IV-70 

Rev. Rul. 93-21, 1993-13 I.R.B. 5 ............................................................................................................I-73 

Rev. Rul. 93-21, I.R.B. 1993-1 C.B. 188, modifying 72-602.............................................................I-50, 52 

REVENUE PROCEDURES 

Rev. Proc. 67-37, 1967-2 C.B. 668........................................................................................................IV-40 

Rev. Proc. 72-16, 1972-1 C.B. 738................................................................................................IV-90, 110 

Rev. Proc. 72-17, 1972-2 C.B. 739................................................................................................IV-90, 110 

Rev. Proc. 73-38, 1973-2 C.B. 501................................................................................................IV-91, 110 

Rev. Proc. 73-39, 1973-2 C.B. 502.................................................................................................IV-67, 70, 

Rev. Proc. 84-46, 1984-1 C.B. 541......................................................................................IV-109, 112, 113 

Rev. Proc. 90-29, 1990-1 C.B. 533..................................................................................................IV-67, 70 

Rev. Proc. 2004-8, § 6.09, 2004-1 I.R.B. 248......................................................................................IV-110 

TREASURY DECISIONS 

14 T.D. Int. Rev. 118 (1911)...................................................................................................................I-108 

16 T.D. Int. Rev. 29 (1914) ....................................................................................................................I-107 

T.D. 1996, 16 Treas. Dec. Int. Rev. 100 (June 15, 1914) (Art. 92 revoked) ..........................................I-108 

T.D. 2090, 16 Treas. Dec. Int. Rev. 259 (Dec. 14, 1914). ......................................................................I-108 

T.D. 2690, 20 Treas. Dec. Int. Rev. 126 (Jan. 2, 1918) ..........................................................................I-109 

T.D. 2737, 20 Treas. Dec. Int. Rev. 441 (1918) ....................................................I-89, 90, 91, 93, 95, II-10 

T.D. 2831, 21 Treas. Dec. Int. Rev. 170 (Apr. 16, 1919) ..............................................................I-110, 112 

T.D. 3146, 23 Treas. Dec. Int. Rev. 352 (Jan. 28, 1921) ...............................................................I-110, 112 

T.D. 3295, 24 Treas. Dec. Int. Rev. 207 (Feb. 15, 1922)................................................................I-111, 113 

T.D. 3511, 25 Treas. Dec. Int. Rev. 299, II-2 C.B. 201 (Sept. 6, 1923) .................................................I-110 

T.D. 3640, 26 Treas. Dec. Int. Rev. 745 (Oct. 6, 1924)..........................................................................I-111 
14 

T.D. 3658, 26 Treas. Dec. Int. Rev. 1234 (Dec. 20, 1924) .....................................................................I-111 

T.D. 6014, 1953-1 C.B. 110, 117..........................................................................................I-119, 121, II-31 

T.D. 6091, 1954-2 C.B. 47...................................................................................................................IV-117 

T.D. 6235, 1957-1 C.B. 98, 101.............................................................................................................IV-15 

T.D. 6301, 1958-2 C.B. 197............................................................................................... III-62, 14, IV-116 

T.D. 6428, 1959-2 C.B. 26..............................................................................................................I-121, 122 

T.D. 6429, 1959-2 C.B. 452....................................................................................................................I-121 

T.D. 6643, 1963-1 C.B. 148...................................................................................................................IV-14 

T.D. 6649, 1963-1 C.B. 49.....................................................................................................................IV-15 

T.D. 6855, 30 FR 13134-36 (Oct. 15, 1965)..........................................................................................III-67 

T.D. 8697 (Dec. 17, 1996) ...................................................................................................................... II-72 

GENERAL COUNSEL MEMORANDA 

Gen. Couns. Mem. 11,068, XII-1 C.B. 122 (1933)................................................................................IV-83 

Gen. Couns. Mem. 17,895, 1937-1 C.B. 56..............................................................................................I-94 

Gen. Couns. Mem. 22,364, 1941-1 C.B. 296.........................................................................................IV-17 

Gen. Couns. Mem. 33,631 (Sept. 22, 1967)............................................................................................V-66 

Gen. Couns. Mem. 33,795 (Apr. 11, 1968) ............................................................................................V-67 

Gen. Couns. Mem. 33,981 (Nov. 20, 1968).....................................................................................IV-59, 72 

Gen. Couns. Mem. 34,334 (Aug. 17, 1970).................................................................... V-31, 64, 68, 69, 91

Gen. Couns. Mem. 34,935 (July 3, 1972) .........................................................................................V-69, 92 

Gen. Couns. Mem. 37,578 (June 16, 1978) ............................................................................................V-70 

Gen. Couns. Mem. 37,751 (Nov. 21, 1978)............................................................................................V-39 

Gen. Couns. Mem. 38,099 (Sept. 18, 1979)...........................................................................................IV-86 

Gen. Couns. Mem. 38,885 (Apr. 23, 1982) ............................................................................................V-49 

Gen. Couns. Mem. 39,170 (June 3, 1982) ..............................................................................................V-60 

Gen. Couns. Mem. 39,587 (Dec. 3, 1986) ........................................................................................V-77, 88 

Gen. Couns. Mem. 39,610 (Mar. 5, 1987) ............................................................................ V-78, 80, 82, 83 

Gen. Couns. Mem. 39819 (July 7, 1989) ...............................................................................................IV-70 

PRIVATE LETTER RULINGS 

Priv. Ltr. Rul. 6503036020A (Mar. 3, 1965) ..............................................................................V-27, 62, 63 

Priv. Ltr. Rul. 7202281240A (Feb. 28, 1972).........................................................................................V-79 
15 

Priv. Ltr. Rul. 7207319410A (July 31, 1972) ...................................................................................V-30, 31 

Priv. Ltr. Rul. 7301319420A (Jan. 31, 1973) .........................................................................................V-31 

Priv. Ltr. Rul. 7410291300A (Oct. 29, 1974) ......................................................................................III-108 

Priv. Ltr. Rul. (Nov. 21, 1975)................................................................................................................V-41 

Priv. Ltr. Rul. (EIN 75-0235810), Mar. 8, 1976. .................................................................................... II-69 

Priv. Ltr. Rul. 7729062 (no date, 1977)........................................................................................II-84, V-69 

Priv. Ltr. Rul. 7728030 (no date, 1977).....................................................................................III-26, 52, 94 

Priv. Ltr. Rul. 7731017 (May 4, 1977). ....................................................................................................I-43 

Priv. Ltr. Rul. 7738016 (June 22, 1977). ...............................................................................................III-27 

Priv. Ltr. Rul. 7743054 (July 28, 1977).......................................................................................III-109, 111 

Priv. Ltr. Rul. 7746080 (Aug. 22, 1977)................................................................................................III-46 

Priv. Ltr. Rul. 7804083 (Oct. 28, 1977)...............................................................................III-143, V-44, 59 

Priv. Ltr. Rul. 7819019 (Feb. 7, 1978).................................................................................................... II-84 

Priv. Ltr. Rul. 7825095 (March 27, 1978) .............................................................................................III-52 

Priv. Ltr. Rul. 7840010 (June 22, 1978) ......................................................................................III-108, 121 

Priv. Ltr. Rul. 7843060 (July 27, 1978)..................................................................................................V-36 

Priv. Ltr. Rul. 7850073 (Sept. 18, 1978)..........................................................................................III-49, 50 

Priv. Ltr. Rul. 7852005 (Aug. 31, 1978).................................................................................................V-36 

Priv. Ltr. Rul. 7905125 (Nov. 6, 1978)...................................................................................................V-36 

Priv. Ltr. Rul. 7925101 (Mar. 23, 1979)........................................................................................III-93, 106 

Priv. Ltr. Rul. 7925114 (Mar. 23, 1979)................................................................................................IV-82 

Priv. Ltr. Rul. 7926068 (Mar. 29, 1979) .................................................II-25, III-90, 92, 93, 136, V-21, 44 

Priv. Ltr. Rul. 7936017 (May 31, 1979). ...............................................................................................III-23 

Priv. Ltr. Rul. 7937041 (June 13, 1979) ...........................................................................................V-44, 87 

Priv. Ltr. Rul. 7950064 (Sept. 14, 1979)..............................................................................................III-145 

Priv. Ltr. Rul. 7951127 (Sept. 24, 1979)................................................................................................III-24 

Priv. Ltr. Rul. 8004074 (Oct. 31, 1979).......................................................................................III-133, 134 

Priv. Ltr. Rul. 8005012 (Oct. 29, 1979)...........................................................................................III-86, 87 

Priv. Ltr. Rul. 8006112 (Nov. 20, 1979)....................................................................................... I-42, III-50 

Priv. Ltr. Rul. 8015048 (Dec. 31, 1979) ..............................................................................................III-108 

Priv. Ltr. Rul. 8021073 (Feb. 28, 1980)..................................................................................................V-37 

Priv. Ltr. Rul. 8023018 (Feb. 27, 1980).....................................................................................III-35, 37, 55 

Priv. Ltr. Rul. 8023023 (Feb. 28, 1980).................................................................................................. II-25 

Priv. Ltr. Rul. 8025168 (Mar. 27, 1980)..............................................................................IV-73, 73, 79, 81 

Priv. Ltr. Rul. 8031041 (May 8, 1980) ................................................................................................III-108 
16 

Priv. Ltr. Rul. 8033070 (May 22, 1980) ..................................................................II-101, III-108, 112, 121 

Priv. Ltr. Rul. 8104118 (Oct. 30, 1980)............................................................................................ II-11, 84 

Priv. Ltr. Rul. 8118012 (Jan. 18, 1981). ................................................................................................. II-14 

Priv. Ltr. Rul. 8129050 (Apr. 22, 1981). .................................................................................... I-44, III-159 

Priv. Ltr. Rul. 8138144 (June 26, 1981). .........................................................................................III-29, 52 

Priv. Ltr. Rul. 8142166 (July 24, 1981)...........................................................................................III-24, 53 

Priv. Ltr. Rul. 8225100 (Mar. 25, 1982)..............................................................................................III-113 

Priv. Ltr. Rul. 8225100 (Mar. 25, 1982)..............................................................................................III-108 

Priv. Ltr. Rul. 8233051 (May 19, 1982) ...........................................................................................V-49, 92 

Priv. Ltr. Rul. 8248034 (Aug. 30, 1982)...........................................................................................V-21, 51 

Priv. Ltr. Rul. 8248048 (Aug. 30, 1982).....................................................................................V-15, 17, 50 

Priv. Ltr. Rul. 8324108 (Mar. 17, 1983)...................................................................................................I-51 

Priv. Ltr. Rul. 8340012 (June 24, 1983). ................................................................................................ II-70 

Priv. Ltr. Rul. 8419060 (Feb. 8, 1984)...................................................................................................IV-73 

Priv. Ltr. Rul. 8447038 (Aug. 20, 1984)..........................................................................................III-69, 83 

Priv. Ltr. Rul. 8505001 (May 15, 1984) ....................................................................................... I-51, III-29 

Priv. Ltr. Rul. 8520003 (Jan. 11, 1985) .................................................................................................. II-81 

Priv. Ltr. Rul. 8521003 (Jan. 25, 1985). ........................................................................................... II-20, 89 

Priv. Ltr. Rul. 8531002 (Feb. 28, 1985).......................................................................................... II-84, 100 

Priv. Ltr. Rul. 8540051 (July 3, 1985)...................................................................................III-94, V-16, 60 

Priv. Ltr. Rul. 8540056 (July 8, 1985)...................................................................................III-72, V-16, 60 

Priv. Ltr. Rul. 8547039 (Aug. 27, 1985)..................................................................................II-114, III-153 

Priv. Ltr. Rul. 8604011 (Oct. 25, 1985).................................................................................................III-23 

Priv. Ltr. Rul. 8613017 (Dec. 23, 1985). ...............................................................................................III-94 

Priv. Ltr. Rul. 8617040 (Jan. 24, 1986) ...............................................................................................III-135 

Priv. Ltr. Rul. 8624019 (Mar. 10, 1986)...........................................................................................V-46, 92 

Priv. Ltr. Rul. 8638054 (June 24, 1986) ..............................................................................................III-135 

Priv. Ltr. Rul. 8641005 (June 30, 1986) .................................................................................................V-92 

Priv. Ltr. Rul. 8723018 (Mar. 5, 1987)................................................................................................III-157 

Priv. Ltr. Rul. 8744007 (July 21, 1987)....................................................................................................I-51 

Priv. Ltr. Rul. 8748015 (Aug. 27, 1987)...................................................................................................I-51 

Priv. Ltr. Rul. 8752008 (Dec. 24, 1987) ................................................................................................. II-81 

Priv. Ltr. Rul. 8812019 (Dec. 16, 1987) ................................................................III-145, 148, V-47, 50, 61 

Priv. Ltr. Rul. 8819022 (Feb. 9, 1988).................................................................................................IV-107 

Priv. Ltr. Rul. 8823032 (Mar. 8, 1988).....................................................................................................I-51 
17 

Priv. Ltr. Rul. 8827027 (Apr. 7, 1988). .................................................................................................. II-81 

Priv. Ltr. Rul. 8838018 (June 23, 1988). .........................................................................................III-72, 84 

Priv. Ltr. Rul. 8842018 (July 22, 1988).............................................................................. IV-105, V-20, 37 

Priv. Ltr. Rul. 8842034 (July 26, 1988)....................................................................................................I-51 

Priv. Ltr. Rul. 8846030 (Aug. 22, 1988)..................................................................................III-74, 94, 141 

Priv. Ltr. Rul. 8850027 (Sept. 16, 1988)............................................................................... I-51, III-35, 162 

Priv. Ltr. Rul. 8952019 (Sept. 28, 1989)....................................................................II-51, III-146, V-47, 96 

Priv. Ltr. Rul. 8952042 (Sept. 29, 1989)......................................................................................IV-107, 107 

Priv. Ltr. Rul. 9006024 (Nov. 9, 1989)..................................................................................................IV-78 

Priv. Ltr. Rul. 9021013 (Feb. 21, 1990)......................................................................................V-37, 61, 80 

Priv. Ltr. Rul. 9033006 (May 14, 1990). ................................................................................................ II-72 

Priv. Ltr. Rul. 9034043 (May 29, 1990) ..........................................................................................IV-35, 36 

Priv. Ltr. Rul. 9049026 (Sept. 10, 1990)................................................................................................. II-95 

Priv. Ltr. Rul. 9117037 (Jan. 28, 1991) ....................................................................................................I-51 

Priv. Ltr. Rul. 9132038 (May 13, 1991). ...............................................................................................IV-36 

Priv. Ltr. Rul. 9141028 (July 11, 1991)....................................................................................................I-51 

Priv. Ltr. Rul. 9202026 (Oct. 11, 1991)......................................................................................V-20, 23, 48 

Priv. Ltr. Rul. 9229011 (Apr. 13, 1992) ..............................................................................................IV-109 

Priv. Ltr. Rul. 9235011 (May 21, 1992) ...................................................................................................I-51 

Priv. Ltr. Rul. 9237013 (June 10, 1992) ...................................................................................................I-51 

Priv. Ltr. Rul. 9238010 (June 16, 1992). .............................................................................................. II-100 

Priv. Ltr. Rul. 9309012 (Dec. 1, 1992) ..................................................................................................IV-36 

Priv. Ltr. Rul. 9310031 (Dec. 15, 1992) ..........................................................................................IV-32, 48 

Priv. Ltr. Rul. 9313016 (Dec. 23, 1992). ..................................................................................................I-44 

Priv. Ltr. Rul. 9314013 (Jan. 6, 1993). ...................................................................................................V-96 

Priv. Ltr. Rul. 9326006 (Mar. 16, 1993).................................................................................................V-88 

Priv. Ltr. Rul. 9547015 (Aug. 24, 1995)..........................................................................................IV-92, 94 

Priv. Ltr. Rul. 9547016 (Aug. 24, 1995)................................................................................................IV-94 

Priv. Ltr. Rul. 9852012 (Sept. 24, 1998)............................................................................................... II-114 

Priv. Ltr. Rul. 9827042 (Apr. 8, 1998). .................................................................................................. II-73 

Priv. Ltr. Rul. 9827043 (Apr. 8, 1998). .................................................................................................. II-73 

Priv. Ltr. Rul. 9846022 (Aug. 17, 1998)................................................................................................. II-75 

Priv. Ltr. Rul. 9846027 (Aug. 17, 1998)................................................................................................. II-75 

Priv. Ltr. Rul. 9852012 (Sept. 24, 1998)................................................................................................. II-75 

Priv. Ltr. Rul. 199920034 (Feb. 24, 1999).............................................................................................. II-76 
18 

Priv. Ltr. Rul. 200042013 (July 20, 2000). ...............................................................................................I-54 

Priv. Ltr. Rul. 200119016 (Feb. 6, 2001)............................................................................................I-24, 30 

Priv. Ltr. Rul. 200123033 (June 8, 2001) ............................................................................................... II-77 

Priv. Ltr. Rul. 200139020 (June 29, 2001) ...............................................................................................I-30 

Priv. Ltr. Rul. 200152035 (Oct. 2, 2001)................................................................................................ II-63 

Priv. Ltr. Rul. 200206044 (Nov. 9, 2001)............................................................................................... II-63 

Priv. Ltr. Rul. 200209024 (Nov. 29, 2001)...............................................................................................I-54 

Priv. Ltr. Rul. 200210003 (Dec. 4, 2001). ................................................................................................I-54 

Priv. Ltr. Rul. 200224017 (Mar. 15, 2002). ........................................................................ I-54, III-117, 121 

Priv. Ltr. Rul. 200226037 (Mar. 28, 2002). .....................................................................................III-50, 51 

Priv. Ltr. Rul. 200239029 (June 19, 2002) ............................................................................................. II-63 

Priv. Ltr. Rul. 200244013 (July 25, 2002). ............................................................................................. II-78 

Priv. Ltr. Rul. 200252027 (Dec. 27, 2002) ............................................................................................. II-64 

Priv. Ltr. Rul. 200314002 (Dec. 4, 2002) ............................................................................................... II-63 

Priv. Ltr. Rul. 200341017 (July 3, 2003) ................................................................................................V-53 

Priv. Ltr. Rul. 200404003 (Oct. 10, 2003).............................................................................................. II-63 

Priv. Ltr. Rul. 200414019 (Dec. 15, 2003) ..........................................................................III-117, V-53, 54 

Priv. Ltr. Rul. 200444004 (Oct. 29, 2004)................................................................................................I-43 

TECHNICAL ADVICE MEMORANDA 

Tech. Adv. Mem. 7207319410A (July 31, 1972) ...................................................................................V-40 

Tech. Adv. Mem. 7301319420A (Jan. 31, 1973) ...................................................................................V-84 

Tech. Adv. Mem. (Dec. 29, 1975) .........................................................................................................IV-33 

Tech. Adv. Mem. 7745007 (June 28, 1977) ..........................................................................................IV-68 

Tech. Adv. Mem. 7746003 (Aug. 2, 1977)...............................................................................................I-44 

Tech. Adv. Mem. 7812004 (Oct. 31, 1977)...........................................................................................IV-36 

Tech. Adv. Mem. 7814002 (June 29, 1977) ..........................................................................................IV-58 

Tech. Adv. Mem. 7840010 (June 22, 1978) .................................................................. III-112, 121, IV-103 

Tech. Adv. Mem. 7902004 (Sept. 27, 1978)............................................................................... IV-79, V-70 

Tech. Adv. Mem. 7936017 (May 31, 1979) ................................................................................III-131, 133 

Tech. Adv. Mem. 8005012 (Oct. 29, 1979)...........................................................................................III-72 

Tech. Adv. Mem. 8015048 (Dec. 31, 1979) ...........................................................................................V-63 

Tech. Adv. Mem. 8019003 (Nov. 20, 1979)...........................................................................................V-37 
19 

Tech. Adv. Mem. 8023018 (Feb. 27, 1980).....................................................................................III-74, 80 

Tech. Adv. Mem. 8023023 (Feb. 28, 1980)............................................................................................ II-92 

Tech. Adv. Mem. 8025168 (Mar. 27, 1980) ..........................................................................................IV-27 

Tech. Adv. Mem. 8031057 (Apr. 29, 1980) ........................................................................................III-153 

Tech. Adv. Mem. 8043019 (July 24, 1980) ............................................................................................V-16 

Tech. Adv. Mem. 8047006 (July 29, 1980) .....................................................................................IV-27, 36 

Tech. Adv. Mem. 8048018 (Aug. 27, 1980)....................................................................................IV-26, 34 

Tech. Adv. Mem. 8115011 (Dec. 18, 1980) ..........................................................................................IV-47 

Tech. Adv. Mem. 8118012 (Jan. 28, 1981) ..............................................................................................I-42 

Tech. Adv. Mem. 813001 (Mar. 24, 1981) ...............................................................................................I-42 

Tech. Adv. Mem. 8205013 (Oct. 29, 1981)...........................................................................................IV-71 

Tech. Adv. Mem. 8219821 (Mar. 18, 1982) .............................................................................................I-51 

Tech. Adv. Mem. 8225013 (Mar. 18, 1982) .............................................................................................I-51 

Tech. Adv. Mem. 8228008 (Mar. 31, 1982) ..........................................................................................IV-84 

Tech. Adv. Mem. 8245082 (Dec. 31, 1981) ......................................................................... IV-79, V-23, 71

Tech. Adv. Mem. 8247011 (July 28, 1982) ......................................................................................V-60, 92 

Tech. Adv. Mem. 8252002 (Mar. 25, 1980) ..........................................................................................IV-71 

Tech. Adv. Mem. 8316002 (Jan. 7, 1983) ..............................................................................................V-37 

Tech. Adv. Mem. 8316156 (Jan. 5, 1983) ..............................................................................................V-37 

Tech. Adv. Mem. 8432010 (Apr. 27, 1984) ........................................................................................III-148 

Tech. Adv. Mem. 8521003 (Jan. 25, 1985) ................................................................................. I-125, V-72 

Tech. Adv. Mem. 8532004 (Apr. 17, 1985) ...........................................................................................V-98 

Tech. Adv. Mem. 8532005 (Apr. 17, 1985) ...........................................................................................V-98 

Tech. Adv. Mem. 8626002 (Mar. 4, 1986) ......................................................................................IV-34, 64 

Tech. Adv. Mem. 8641003 (June 26, 1986) .....................................................................................V-88, 92 

Tech. Adv. Mem. 8641005 (June 30, 1986) .....................................................................................V-88, 93 

Tech. Adv. Mem. 8705091 (Nov. 7, 1986)....................................................................IV-22, 23, 35, 37, 41

Tech. Adv. Mem. 8707005 (Nov. 7, 1986).................................................................. I-51, V-37, 78, 80, 82 

Tech. Adv. Mem. 8750002 (July 23, 1987) ...........................................................................................IV-32 

Tech. Adv. Mem. 8815001 (Nov. 3, 1987)............................................................................. II-55, 56, V-91 

Tech. Adv. Mem. 8941001 (June 14, 1989) ........................................................................................... II-58 

Tech. Adv. Mem. 9114002 (Nov. 27, 1990)..................................................................................IV-74, 113 

Tech. Adv. Mem. 9124004 (Mar. 13, 1991) .........................................................................................V-102 

Tech. Adv. Mem. 9128007 (Mar. 28, 1991) ........................................................................III-162, V-20, 37 

Tech. Adv. Mem. 9208004 (Oct. 31, 1991)...................................................................................... II-47, 81 
20 

Tech. Adv. Mem. 9211001 (Sept. 23, 1991)..................................................................................... II-47, 49 

Tech. Adv. Mem. 9214009 (Dec. 13, 1991) .........................................................................................V-101 

Tech. Adv. Mem. 9236001 (May 20, 1992) .............................................................................I-41, II-47, 49 

Tech. Adv. Mem. 9249005 (Dec. 4, 1992) ..................................................................................III-108, 113 

Tech. Adv. Mem. 9303004 (Oct. 7, 1992)................................................................................................I-51 

Tech. Adv. Mem. 9542002 (July 18, 1995) .........................................................................................IV-122 

Tech. Adv. Mem. 9547015 (Aug. 24, 1995)........................................................................................IV-113 

Tech. Adv. Mem. 9547016 (Aug. 24, 1995)........................................................................................IV-113 

Tech. Adv. Mem. 9548001 (Mar. 23, 1995) ........................................................................................IV-123 

OTHER DECISIONS 

I.T. 1312, I-1 C.B. 263 (1922) ..............................................................................................................IV-18 

I.T. 1499, I-2 C.B. 189 (1922) .....................................................................................................I-91, 95, 97 

I.T. 1671, C.B. II-1, 158 (1923)...........................................................................................................IV-121 

I.T. 2000, III-1 C.B. 290 (1924); III-2 C.B. 233 (1924). ........................................................................I-112 

I.T. 3208, 1938-2 C.B. 127 .............................................................................................I-87, 91, 94, 97, 102 

I.T. 3853, 1947-1 C.B. 42. .....................................................................................................................IV-31 

Notice 87-68, 1987-2 C.B. 378............................................................................................III-142, 143, 146 

OTHER AUTHORITIES 

"Report on Terminology," in Proceedings of the Section of Corporation, Banking 

 and Mercantile Law, American Bar Association............................................................................ II-10 

A. Gunn, Cases and Other Materials on Federal Income Taxation, 

 West Publishing Company (St. Paul 1981).......................................................................................I-84 

C. Adams, et al., Farmer Cooperative Statistics, 2002, RBS Serv. Rep. No. 62 

 (USDA, June 2004)...........................................................................................................................I-17 

Clifford R. Fulton, Relationship Netting Under Rev. Rul. 67-128: An End to the 

 Isolation of Nonpatron Loss, The Cooperative Accountant, Summer 1986 ...................................V-82 

D. Chesnik, "Financial Profile of Largest 100 Agricultural Cooperatives, 2002" 

 RBS Rep. No. 204 (USDA, Oct. 2004) ............................................................................................I-18 

D. Cobia (ed.) Cooperatives in Agriculture, (Prentice Hall 1989) ...........................................................I-82 
21 

D. Cobia et al., Equity Redemption: Issues and Alternatives for Farmer 

 Cooperatives, ACS Research Rep. No. 23, (USDA 1982) ............................................ I-70, 77, III-89 

Donald A. Frederick, Keeping Cooperative Membership Rolls Current, 

 ACS Coop. Info. Rep. 37 (USDA 1991) ........................................................................ III-108, IV-72 

Donald A. Frederick, Sample Legal Documents for Cooperatives, 

 RBS Coop. Info. Rep. No. 40 (USDA 1990) ...................................................................I-58, 78, II-14 

Farming -- Specific Income Issues and Farm Cooperatives, 

 Market Segment Specialization Program training document No. 3147-114, 

 Dept. of the Treas., I.R.S. (1997)................................................................................................III-147 

G. Portney, "Letter Rulings: An Endangered Species?" 36 Tax Lawyer 751 (1983) ...............................I-39 

George J. Waas and Daniel G. White, Application of the Federal Income 

 Tax Statutes to Farmers' Cooperatives, Farm Credit Administration 

 Bulletin No. 53, ¶ 521 (USDA 1942) ............................................................................................IV-54 

Gerald A. Holmes, Cooperatives and Losses, A Historical Perspective on Current Issues, 

 The Cooperative Accountant (Winter 1975)...................................................................................V-30 

Griffin, A Financial Profile of Farmer Cooperatives in the United States, 

 FCS Research Rep. 23 (USDA 1972)............................................................................................III-60 

H. Hulbert, Griffin, and Gardner, Methods of Financing Farmer Cooperatives, 

 FCS Gen. Rep. 32 (USDA 1957)...................................................................................................III-59 

H. Hulbert, Griffin, and Gardner, Revolving Fund Method of Financing Farmer 

 Cooperatives, FCS Gen. Rep. 41 (USDA 1958)......................................................................III-59, 60 

H. Massler, "How to Get and Use IRS Private Letter Rulings," 33 Pract. Lawyer 11 (1987)..................I-39 

Hulbert and Mischler, Legal Phases of Farmer Cooperatives, 

 FCS Bulletin 10 (USDA 1958)......................................................................................................III-62 

J. Holden and M. Novey, "Legitimate Uses of Letter Rulings Issued to 

 Other Taxpayers - A Reply to Gerald Portney," 37 Tax Lawyer 337 (1984). ..................................I-39 

J. Reilly, Cooperative Marketing Agreements: Legal Considerations, 

 ACS Research Rep. No. 106 (USDA 1992). ....................................................................................I-61

James Baarda, Cooperative Principles and Statutes: Legal Descriptions 

 of Unique Enterprises, ACS Research Rep. No. 54 (USDA 1986). .................I-55, II-17, IV-29, V-24 

James Baarda, State Cooperative Incorporation Statutes for Farmer 

 Cooperatives, ACS Coop. Info. Rep. 30 (USDA 1982) ............................................I-55, III-59, IV-29 

John Noakes, Chapter 136, Agricultural Cooperative Securities, in Neil Harl, 

 Agricultural Law, Matthew-Bender: New York (1994) ..............................................................IV-114 
22 

M. Matthews, Financial Instruments Issued by Agricultural Cooperatives, 

 ACS Research Rep. No. 68, (USDA 1988). .....................................................................................I-70 

Marion M. Winkler, Treatment of Losses of Farmer Cooperatives, 

 The Cooperative Accountant, Fall 1971 ...................................................................................V-27, 29 

Neely & Hulbert, Legal Phases of Farmer Cooperatives, FCS Information 100 (USDA 1976) ...........III-55 

Pinney L. Allen et al., New Opportunities for Cooperatives Regarding 

 the Redemption of Equity, XLX The Cooperative Accountant 3-7 (FAll 1997).........................III-115 

R. Tresolini, American Constitutional Law (2d ed.), The Macmillan Company 

 (New York 1965)........................................................................................................................I-83, 85 

Randolph E. Paul, The Justifiability of the Policy of Exempting Farmers' 

 Marketing and Purchasing Cooperative Organizations from Federal Income 

 Taxes, 29 Minn. L. Rev. 343 (1945)..............................................................................................IV-12 

Rathbone & Wissman, Equity Redemption and Member Equity Allocation 

 Practices of Agricultural Cooperatives, ACS Research Rep. No. 124 (USDA 1993) ..................III-89 

Robert C. Rathbone & Donald R. Davidson, Base Capital Financing 

 of Cooperatives, RBCDS Cooperative Info. Rep. 51 (USDA 1995)................................................ 683 

Royer, Wissman and Kraenzle, Farmer Cooperatives' Financial Profile, 1987, 

 ACS Research Rep. 91 (USDA 1990) ...........................................................................................III-60 

TAXFAX, The Cooperative Accountant (Spring 1976)...................................................................V-29, 44 

Wile, Taxation of Farmers' Cooperatives and their Patrons, 18 USC School of 

 Law Tax Institute 449 (1966) ........................................................................................................III-85 

XIV Legal-Tax Memorandum No. 5, National Council of Farmer 

 Cooperatives (May 6, 1965) ..........................................................................................................III-64 

XIV Legal-Tax Memorandum No. 11, National Council of Farmer 

 Cooperatives (Oct. 15, 1965).........................................................................................................III-64