Show ALL lItH MATION BONDS I 1 AM tl I 1 interest or income from bond bonds or other obligations of irrigation or reclamation cla mation districts are not exempts empt itom from taxation under the income tax as obese districts are not political subdivision subdivisions sub division divisions of th state this op opinion lillon handed banded down by the ot of the treasury baa has been received by NI billiam lliam U whaley united states collector ot of internal revenue tor for this district dietr lct hala hal 1 18 1 ot the opinion that this ruling AM moan amny thousands of dollars to the government in the in region where 1111 districts are eo so nura nuin roue crous under the income tax I 1 la the bonds ot of cities states and counties count lea are exempt the new decision de clelon holda holds that districts are not pub lie lic utilities nor do they exercise any special function ot of government tic ic c ruing to any state or terri territory tor blanks for holding out companies coni alch held out the income tax on oil bonds at their source for the month of november vember Vo bave bv n received by th the c I 1 r tern 1 I ree revenue nue otic most lost of tofe holding out compan lea BIC me binks the revenue will be collected d before Do dember cember |