Post Date: December 2, 2012
On November 29, 2012, Senator Udall of Colorado submitted a bill to amend Section 501(c)(12) as it relates to mutual ditch and irrigation companies. The bill would (i) modify the Member Income Test by exempting certain income and (ii) codify an exception for mutual companies to allow pro-rata voting based on share ownership.
Read the latest Cooperative Tax Brief 2012-12.
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