PETALUMA CO-OPERATIVE CREAMERY v. COMMISSIONER

Docket No. 1259-67.

52 T.C. 457 (1969)

PETALUMA CO-OPERATIVE CREAMERY, A CALIFORNIA CO-OPERATIVE CORPORATION, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 17, 1969.


Attorney(s) appearing for the Case

John B. Lounibos, for the petitioner.

Gordon B. Cutler, for the respondent.


FAY, Judge:

Respondent determined deficiencies in petitioner's income tax as follows:

                    F.Y.E. June 30Deficiency

1958 --------------------------------------      $18,476
1959 --------------------------------------       38,740

The issues presented for decision are:

(1) Whether petitioner operated as a farmers' cooperative which was exempt from Federal income taxes during...

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