2.205 -Deduction for Certain Dividends of Cooperatives

Item	Description	FY2009	FY2010	FY2011
2.205	Deduction for Certain Dividends of Cooperatives Farmers' cooperatives and certain corporations acting as cooperatives may deduct patronage dividends and other amounts from gross income. Cooperatives meeting certain requirements may deduct dividends on capital stock and certain payments to patrons such as investment income. Under generally accepted rules for taxing corporations, the corporation cannot deduct dividends paid to shareholders. Origin: IRC S. 1381-1388 Estimate: N.A.	N.A.	N.A.	N.A.

Key:

ORIGIN
IRC	Federal Internal Revenue Code (26 U.S.C.)
M.G.L.	Massachusetts General Laws
U.S.C	United States Code
ESTIMATES	All estimates are in $ millions.