A bill to amend the Internal Revenue Code of 1954 to equalize the taxation of certain cooperatives.
Tax Equalization Act - Amends the Internal Revenue Code to repeal the tax exempt status of farmers' cooperatives and the special tax treatment of certain other cooperatives. Disallows to cooperatives any deduction for patronage dividends paid by them. Includes patronage dividends within the amounts excludible as dividends received by individuals and corporations.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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