Show CAPITAL STOCK TAX EXEMPTIONS DENIED V Efforts of ot livestock grazing associations asso elation or companies In Utah Wyoming and Nevada eada to be he relieved ed of the payment of capital stock tax to th the federal government have helVe r resulted s ad adversely j. al Tersely to these Interests according to toa a 0 go the tho Internal revenue COQ conj missioner received by Collector Jam James j H. H Anderson The ruling especially concerns sheep grazing associations la in the tho Intermountain country i J While the decision of ot the commit commit- will not result in widespread M- M of ot penalties for tor failure to flU flie returns and pay the tho tax it means that exemption from Crom rain the tho capital stock talIn tax tal in tho the future will be denied Most 1 of of such associations have complied with the regulations in tho the past according to Collector Anderson but felt tell that the cooperative plan under which the then t were organized ors and doing placed them In a L class apart from th the regularly organized corporation The usual plan followed In tho the livestock live stock gr grazing company is for tor a number of ot owners oWner to band together on a co cooperative cooperative co co- operative basis for tor the tho use of ot a certain tam tain tract of or land A grazing association tion is organized and stock usually is Issued to the mem mem- bers This stock is assessed to the ex extent extent extent ex- ex tent of tho ho actual operating expenses Under the ruling of the commissioner 11 there thoro ro will be no relief from the payment pay pa- ment of or the capital stock tax at nt the rate rato of 1 1 per 1000 above an exemption exemption exemption tion of ot |