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501(c)(16)
From Ballotpedia
501(c)(16) is an Internal Revenue Service (IRS) tax exemption status that applies to what the IRS calls "corporations organized to finance crop operations." These entities must be established by a farmers' cooperative registered under the Internal Revenue Code, Section 521, or its members. In addition, 501(c)(16) corporations must work in partnership with the founding cooperative to fund agricultural operations.[1]
Crop operations may include, but are not limited to, funding for farm equipment, crop cultivation, livestock, warehousing, shipping, and marketing.[2][3]
Examples
- National Livestock Credit Corporation (Oklahoma City, Okla.)
- Staple Cotton Discount Corporation (Greenwood, Miss.)
- Tri-State Livestock Credit Corporation (Rancho Cordova, Calif.)
- Equity Livestock Credit Corporation (Baraboo, Wis.)
- Producers Livestock Credit Association (Columbus, Ohio)[4]
See also
External links
Footnotes
- ↑ Internal Revenue Manual, "Chapter 76. exempt organizations examination guidelines, Section 24. corporations organized to finance crop operations IRC 501(c)(16)," accessed September 22, 2015
- ↑ Staple Cotton Discount Corporation, "What we do," accessed September 22, 2015
- ↑ National Livestock Credit Corporation, "Services," accessed September 22, 2015
- ↑ National Center for Charitable Statistics, "Organizations by IRS subsection 501(c)(16)," accessed September 22, 2015
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