COOPERATIVE AGRICULTURE


benefits or pensions, and indirectly for unemployment in-
surance. To provide revenue to cover the benefits and
insurance, certain taxes are imposed.

 Every employer, regardless of the number of his
employees, unless he is in an excluded class, is subject to
one of the taxes imposed by the Social Security Act. And
every employer of eight or more employees, unless he like-
wise is in an excluded class, is subject to both of the taxes
imposed by the act.

 The cooperative businessman should also become
familiar with the exemption provisions of the Federal
Revenue Act, for if his business meets the requirements of
the exemption provisions, his cooperative is excused from
the payment not only of the noraml income tax. but also
the undistributed profits surtax, the capital-stock tax, the
excess-profits tax, and the stamp tax. (News for Farmer
Cooperatives, Nov., 1937 )