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" ... for the purpose of purchasing supplies and equipment for the use of members or other persons, and turning over such supplies and equipment to them at actual cost, plus necessary expenses. "
Revenue Revision 1927-28: Hearings Before the Committee on Ways and Means ... - Page 422
by United States. Congress. House. Committee on Ways and Means - 1927 - 1014 pages
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Cases Decided in the Court of Claims of the United States, Volume 87

United States. Court of Claims - Law reports, digests, etc - 1939 - 836 pages
...producers, and turning back to them the proceeds of sales, less the necessary marketing expenses, or for the purpose of purchasing supplies and equipment for the use of members or other persons, and turning over such supplies and equipment to them at actual cost, plus necessary...
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Digest of the Federal Revenue Act of 1921: For Income and Excess Profits ...

National City Company - Income tax - 1921 - 104 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them; or organized and operated as purchasing agents for...such members at actual cost, plus necessary expenses; 123 "(12) Corporations organized for the exclusive purpose from, and turning over the entire amount...
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Statutes of the United States of America

United States - Law - 1921 - 642 pages
...purchasing furnished by them; or organized and operated as purchasing agents agentsforsuppues,etc. for the purpose of purchasing supplies and equipment...such members at actual cost, plus necessary expenses; Trustees for exempt(12) Corporations organized for the exclusive purpose of holding ed organizations....
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Barnes' Federal Code: Containing All Federal Statutes of General and Public ...

United States - Law - 1922 - 756 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them; or organized and operated as purchasing agents for...such members at actual cost, plus necessary expenses; (12) Corporations organized for the exclusive purpose of holding title to property, collecting income...
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Federal Income Tax Problems --1922

Emerson Emanuel Rossmoore - Income tax - 1922 - 592 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them ; or organized and operated as purchasing agents for...such members at actual cost, plus necessary expenses; 118 (12) Corporations organized for the exclusive purpose of holding title to property, collecting...
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Practical Questions and Answers on the Federal Tax Laws Affecting Individual ...

Irving Bank. Columbia Trust Company - Income tax - 1923 - 148 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them; or organized and operated as purchasing agents for...such members at actual cost, plus necessary expenses; (12) Corporations organized for the exclusive purpose of holding title to property, collecting income...
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Comparison of the Revenue Acts of 1918 and 1921: With Index ...

United States. Congress. House. Committee on Ways and Means - Finance - 1923 - 256 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them; or organized and operated as purchasing agents for...such members at actual cost, plus necessary expenses; (12) Corporations organized for the exclusive purpose of holding title to property, collecting income...
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Commentary Upon Recent Decisions in the Law of Conditional Sales, the ...

Webster Verner Clark - Conditional sales - 1924 - 76 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them; or organized and operated as purchasing agents for...such members at actual cost plus necessary expenses," are exempt. Act of Nov. 23, 1921, 42 US Stats, at L. 253, US Сотр. Stats. (1923 Supp.) § 6336...
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Agricultural Commerce: The Organization of American Commerce in Agricultural ...

Grover Gerhardt Huebner - Agriculture - 1924 - 556 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them ; or organized and operated as purchasing agents for...members at actual cost, plus necessary expenses." The grain futures act specifically takes cooperative grain associations into account by proving that...
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Accounting Principles Underlying Federal Income Taxes: 1924

Eric Louis Kohler - Accounting - 1924 - 514 pages
...sales, less the necessary selling expenses, on the basis of the quantity of produce furnished by them ; or organized and operated as purchasing agents for...such members at actual cost, plus necessary expenses; (12) Corporations organized for the exclusive purpose of holding title to property, collecting income...
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