A new webinar on co-op taxation presented in collaboration by the National Society of Accountants for Cooperatives and NCBA CLUSA “Fundamentals of Cooperative Taxation,” will be held on Wednesday, April 19, 2023 at 1 pm EDT. This session will be led by Teree Castanias and Brett Huston, both CPAs with a combined experience of over 64 years in cooperative taxation. You’ll get a refresher on the basic rules of Subchapter T of the Internal Revenue Code and learn how those rules affect a cooperative’s tax return, Form 1120-C. Please email firstname.lastname@example.org to receive the access code.
“Fundamentals of Cooperative Taxation” will dive into how to operate on a cooperative basis for tax purposes, and how a company must meet specific tax rules in Subchapter T of the Internal Revenue Code. Attendees will gain an understanding of the basic rules that must be met under Subchapter T.
Our panel of experts will explain the definition of a patronage dividend and how it can be computed and distributed to members/patrons, the taxation of the member/patron, and the Form 1120-C that is used by Subchapter T cooperatives for filing its tax return.
This session will be helpful for anyone who wants to know what tax rules are required for a cooperative.