Form 990-C Form 990-C Farmers' Cooperative Association Income Tax Return

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I.R.S. SPECIFICATIONS

TO BE REMOVED BEFORE PRINTING

INSTRUCTIONS TO PRINTERS
FORM 990-C, PAGE 1 of 6
MARGINS: TOP 13 mm (1⁄2 ") CENTER SIDES. PRINTS: HEAD TO FOOT
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 203 mm (81⁄2 ")
835 mm (327⁄8 "),
TOP FOLD TO: 216 mm (81⁄2 ")
279 mm (11") PERFORATE: ON FOLD

Date

DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form

990-C

Deductions (See instructions for limitations on deductions.)

Income

E Check if:

Revised proofs
requested

For calendar year 2005 or tax year beginning
, 2005, ending

See separate Instructions.
Please Type or Print

Name

B Employer identification number

Number, street, and room or suite no. (If a P.O. box, see instructions.)

C Check if a consolidated
return (attach Form 851)

City or town, state, and ZIP code

D Type of cooperative
Tax exempt
Nonexempt

Initial return

(2)

Final return

(3)

Name change

(4)

Address change

12
13
14
15
16
17
18
19
20a
b
21
22
23
24
25
26
27a
b
c
28

Compensation of officers (Schedule E, line 4)
Salaries and wages (less employment credits)
Repairs and maintenance
Bad debts
Rents
Taxes and licenses
Interest
Charitable contributions (see instructions for 10% limitation)
20a
Depreciation (attach Form 4562)
Less depreciation claimed in Schedule A and elsewhere on return 20b
Depletion
Advertising
Pension, profit-sharing, etc., plans
Employee benefit programs
Domestic production activities deduction (attach Form 8903)
Other deductions (attach schedule)
Total deductions. Add lines 12 through 26
Subtract line 27a from line 11
Deductions and adjustments under section 1382 (Schedule H, line 4)
Taxable income before net operating loss deduction and special deductions. Subtract line 27c
from line 27b
29a
Less: a Net operating loss deduction (see instructions)
29b
b Special deductions (Schedule C, line 18)
Taxable income. Subtract line 29c from line 28 (see instructions if Schedule C, line 11, was completed)

Total tax (Schedule J, line 10)
2004 overpayment credited to 2005
2005 estimated tax payments
2005 refund applied for on
Form 4466
e Tax deposited with Form 7004

31
32a
b
c

OMB No. 1545-0051

2005

, 20

Gross receipts or sales
b Less returns and allowances
Cost of goods sold (Schedule A, line 9)
Gross profit. Subtract line 2 from line 1c
Patronage dividends and per-unit retain allocations (attach schedule)
Dividends (Schedule C, line 17)
Interest
Gross rents
Gross royalties
Capital gain net income (attach Schedule D (Form 1120))
Net gain or (loss) from Form 4797, Part II, line 17 (attach Form 4797)
Other income (see instructions—attach schedule)
Total income. Add lines 3 through 10

29

Signature

O.K. to print

1a
2
3
4a
b
5
6
7
8
9
10
11

30

Tax and Payments

(1)

Date

Farmers’ Cooperative Association Income Tax Return

Department of the Treasury
Internal Revenue Service

A Identify below the
cooperative’s
business activity
with most total
receipts (see
instructions).

Action

c Bal

(5)

Amended return

1c
2
3
4a
4b
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20c
21
22
23
24
25
26
27a
27b
27c
28
29c
30
31

32a
32b
32c (

) d Bal
32d
32e

f Credit from refiguring tax for years in which nonqualified per-unit
retain certificates or nonqualified written notices of allocation
32f
(redeemed this year) were issued (see instructions)
32g
g Credit for Federal tax on fuels (attach Form 4136)


33 Estimated tax penalty (see instructions). Check if Form 2220 is attached
34 Tax due. If line 32h is smaller than the total of lines 31 and 33, enter amount owed
35 Overpayment. If line 32h is larger than the total of lines 31 and 33, enter amount overpaid
36 Enter amount of line 35 you want: Credited to 2006 estimated tax

Refunded

For Privacy Act and Paperwork Reduction Act Notice, see instructions.

Cat. No. 11287B

32h
33
34
35
36
Form

990-C

(2005)

3
I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 990-C, PAGE 2 of 6
MARGINS: TOP 13 mm (1⁄2 ") CENTER SIDES.
PRINTS: HEAD TO FOOT
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
1
7
FLAT SIZE: 203 mm (8 ⁄2 ")
835 mm (32 ⁄8 "),
1
TOP FOLD TO: 216 mm (8 ⁄2 ")
279 mm (11") PERFORATE: ON FOLD
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form 990-C (2005)

Schedule A
1
2
3
4
a
b
5
6a
b
7
8
9
10 a

b
c
d

Page

Cost of Goods Sold (see instructions)

1
Inventory at beginning of year
2
Purchases
3
Cost of labor
Per-unit retain allocations paid in:
4a
Qualified per-unit retain certificates
4b
Money or other property (except nonqualified per-unit certificates)
5
Nonqualified per-unit retain certificates redeemed this year
6a
Additional section 263A costs (attach schedule)
6b
Other costs (attach schedule)
7
Total. Add lines 1 through 6b
8
Inventory at end of year
9
Cost of goods sold. Subtract line 8 from line 7. Enter here and on line 2, page 1
Check all methods used for valuing closing inventory:
(i)
Cost as described in Regulations section 1.471-3
Lower of cost or market as described in Regulations section 1.471-4
(ii)
Other (Specify method used and attach explanation)

(iii)
Check if there was a writedown of subnormal goods as described in Regulations section 1.471-2(c)
Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970)
If the LIFO inventory method was used for this tax year, enter percentage (or amounts) of
10d
closing inventory computed under LIFO

e If property is produced or acquired for resale, do the rules of section 263A apply to the cooperative?
f Was there any change in determining quantities, cost, or valuations between opening and closing inventory?
If “Yes,” attach explanation.

Schedule C
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

18

2

Dividends and Special Deductions
(see instructions)

(a) Dividends
received

Dividends from less-than-20%-owned domestic corporations (other
than debt-financed stock)
Dividends from 20%-or-more-owned domestic corporations (other
than debt-financed stock)
Debt-financed stock of domestic and foreign corporations (section
246A)
Dividends on certain preferred stock of less-than-20%-owned public
utilities
Dividends on certain preferred stock of 20%-or-more-owned public
utilities
Dividends from less-than-20%-owned foreign corporations and
certain FSCs
Dividends from 20%-or-more-owned foreign corporations and certain
FSCs
Dividends from wholly owned foreign subsidiaries (section 245(b))
Total. Add lines 1 through 8. See instructions for limitation
Dividends from certain affiliated group members and FSCs that are
subject to the 100% deduction
Dividends from controlled foreign corporations subject to the 85%
deduction (attach Form 8895)
Dividends from foreign corporations not included on lines 3, 6, 7, 8,
10, or 11
Income from controlled foreign corporations under subpart F (attach
Form 5471)
Foreign dividend gross-up (section 78)
IC-DISC and former DISC dividends not included on lines 1, 2, and/or
3 (section 246(d))
Other dividends
Total dividends. Add lines 1 through 16. Enter here and on line 4b,


page 1
Total special deductions. Add lines 9, 10, and 11. Enter here and on line 29b, page 1

Yes
Yes

No
No

(c) Deduction
((a)
(b))

(b) %

70
80
See
instructions

42
48
70
80
100

100
85

Form

990-C

(2005)

3
I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 990-C, PAGE 3 of 6
MARGINS: TOP 13 mm (1⁄2 "), CENTER SIDES.
PRINTS: HEAD TO FOOT
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
FLAT SIZE: 203 mm (81⁄2 ")
835 mm (327⁄8 "),
TOP FOLD TO: 216 mm (81⁄2 ")
279 (11") PERFORATE: ON FOLD
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form 990-C (2005)

Schedule E

Page

Compensation of Officers (See instructions for line 12, page 1.)
Complete Schedule E only if total receipts (line 1a, plus lines 4a through 10, of page 1) are $500,000 or more.
(a) Name of officer

(b) Social security number

(c) Percent of Percent of association’s
stock owned
time devoted
to business (d) Common (e) Preferred

1

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

2

Total compensation of officers

2

3

Compensation of officers claimed in Schedule A and elsewhere on return

3

4

Subtract line 3 from line 2. Enter the result here and on line 12, page 1

4

Schedule H
1
2
3

4

(f) Amount of
compensation

Deductions and Adjustments Under Section 1382 (see instructions)
1

Dividends paid on capital stock (section 521 cooperatives only)

2

Nonpatronage income allocated to patrons (section 521 cooperatives only)
Patronage dividends:
a Money

3a

b Qualified written notices of allocation

3b

c Other property (except nonqualified written notices of allocation)
d Money or other property (except written notices of allocation) in redemption of nonqualified
written notices of allocation
e Other (attach schedule)

3c

Total. Add lines 1 through 3e. Enter here and on line 27c, page 1

Schedule J

3

3d
3e
4

Tax Computation (see instructions)

Check if the cooperative is a member of a controlled group (see sections 1561 and 1563)

Important: Members of a controlled group, see instructions.
2a If the box on line 1 is checked, enter the cooperative’s share of the $50,000, $25,000, and
$9,925,000 taxable income brackets (in that order):
(1) $
(2) $
(3) $
1

b Enter the cooperative’s share of:
(1) additional 5% tax (not more than $11,750)
(2) additional 3% tax (not more than $100,000)
3 Income tax
4 Alternative minimum tax (attach Form 4626)
5 Add lines 3 and 4
6a Foreign tax credit (attach Form 1118)
b Other credits (see instructions)
c General business credit. Check box(es) and indicate which forms are
attached:
Form 3800
Form(s) (specify)

d Credit for prior year minimum tax (attach Form 8827)

$
$
3
4
5
6a
6b
6c
6d

7

Total credits. Add lines 6a through 6d

7

8

Subtract line 7 from line 5

8

9

Other taxes. Check if from:

10

Form 4255
Form 8902

Form 8611

Total tax. Add lines 8 and 9. Enter here and on line 31, page 1

Other (attach schedule)

9

10
Form

990-C

(2005)

3
I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 990-C, PAGE 4 of 6
PRINTS: HEAD TO FOOT
MARGINS: TOP 13 mm (1⁄2 "), CENTER SIDES.
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
1
7
FLAT SIZE: 203 mm (8 ⁄2 ")
835 mm (32 ⁄8 "),
1
TOP FOLD TO: 216 mm (8 ⁄2 ")
279 (11") PERFORATE: ON FOLD
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form 990-C (2005)

Page

Schedule L

Balance Sheets per Books

Beginning of tax year
(a)

Assets

4

End of tax year

(b)

(c)

(d)

1
2a
b
3
4
5
6
7
8a
b
9a
b
10
11a
b
12
13

Cash
Trade notes and accounts receivable
Less allowance for bad debts
Inventories
U.S. government obligations
Tax-exempt securities (see instructions)
Other investments (attach schedule)
Other current assets (attach schedule)
Buildings and other depreciable assets
Less accumulated depreciation
Depletable assets
Less accumulated depletion
Land (net of amortization)
Intangible assets (amortizable only)
Less accumulated amortization
Other assets (attach schedule)
Total assets

14
15
16
17
18
19

Accounts payable
Mortgages, notes, bonds payable in less than 1 year
Other current liabilities (attach schedule)
Mortgages, notes, bonds payable in 1 year or more
Other liabilities (attach schedule)
Capital stock:
a Preferred stock
b Common stock
Additional paid-in capital
Patronage dividends allocated in noncash form (other
than capital stock and interest-bearing obligations)
Per-unit retains allocated in noncash form
Retained earnings (Schedule M-2)
Adjustments to shareholders’ equity (attach
schedule)
(
)
(
)
Less cost of treasury stock
Total liabilities and capital
Note: The cooperative is not required to complete Schedules M-1 and M-2 if the total assets on line 13, col. (d) of Schedule
L are less than $25,000.

(

)

(

)

(

)

(

)

(

)

(

)

(

)

(

)

Liabilities and Capital

20
21
22
23
24
25
26

Schedule M-1
1
2
3
4

Reconciliation of Income (Loss) per Books With Income per Return (see instructions)

Net income (loss) per books
Federal income tax per books
Excess of capital losses over capital gains
Income subject to tax not recorded on
books this year (itemize):

7

Income recorded on books this year
not included in this tax return (itemize):
Tax-exempt interest $

8

Deductions in this tax return not charged
against book income this year (itemize):
$
a Depreciation
b Charitable contributions $

5

Expenses recorded on books this year not
deducted in this return (itemize):
a Depreciation
$
b Charitable contributions $
c Travel and entertainment $

6

Add lines 1 through 5

Schedule M-2
1
2
3

4

9
10

Add lines 7 and 8
Income (line 28, page 1)—line 6 less line 9

Analysis of Unappropriated Retained Earnings per Books (Line 23, Schedule L)

Balance at beginning of year
Net income (loss) per books
Other increases (itemize):

Add lines 1, 2, and 3

5

6
7
8

Distributions: a Cash
b Stock
c Property
Other decreases (itemize):
Add lines 5 and 6
Balance at end of year (line 4 less line 7)
Form

990-C

(2005)

3
I.R.S. SPECIFICATIONS
TO BE REMOVED BEFORE PRINTING
INSTRUCTIONS TO PRINTERS
FORM 990-C, PAGE 5 of 6 (PAGE 6 IS BLANK)
MARGINS: TOP 13 mm (1⁄2 "), CENTER SIDES.
PRINTS: HEAD TO FOOT
PAPER: WHITE WRITING, SUB. 20.
INK: BLACK
1
7
FLAT SIZE: 203 mm (8 ⁄2 ")
835 mm (32 ⁄8 "),
1
TOP FOLD TO: 216 mm (8 ⁄2 ")
279 (11") PERFORATE: ON FOLD
DO NOT PRINT — DO NOT PRINT — DO NOT PRINT — DO NOT PRINT

Form 990-C (2005)

Schedule N

5
Other Information (see instructions) Note. Items 1 through 10b apply to section 521 cooperatives
only; the remaining items are applicable to all filers.
Page

Yes No

1

Has the cooperative engaged in any activities not
previously reported to the IRS? (If ‘‘Yes,’’ attach
a detailed description of these activities.)

2

Have any changes not previously reported to the IRS been
made in the cooperative’s organizing or governing
documents? (If “Yes,” attach a copy of the changes.)
Number of shares of capital stock (other than nonvoting
preferred) owned by—

3

a Producers

b Current and Active producers

c Nonproducers

d Inactive producers

4

May persons other than producers acquire voting stock or
otherwise become members?

5

Were nonmembers charged the same as members for
marketing and purchasing?

6

Were patronage dividends paid to all patrons, both
member and nonmember, on the same basis?

7

Value of agricultural products marketed or handled for:
a Members—(1) Actually produced by such members
$

Method 1—Did the cooperative use the operations Yes No
of members for those months that correspond to
the months that make up its tax year?
Method 2—Did the cooperative use the tax years of
members that end within its tax year?
Method other than 1 or 2 above—
Explain

11 Enter amount of business done for the U.S. Government

$
or its agencies
12 Were patronage dividends allocated based on a written
obligation in existence before the cooperative received
for sale agricultural products from patrons and/or before
it furnished supplies, equipment, and services to patrons?
If “Yes,” attach an explanation of the obligation and whether
it is in the cooperative’s organizing document(s) or bylaws.
13 At any time during the 2005 calendar year, did the cooperative
have an interest in or a signature or other authority over a
financial account in a foreign country (such as a bank,
securities, or other financial account)? If “Yes,” the
cooperative may have to file Form TD F 90-22.1

(2) Not actually produced by such members but marketed
by them through this cooperative $
b Nonmembers—(1) Actually produced by such nonmembers
$
(2) Not actually produced by such nonmembers but marketed by them through this cooperative $
c Nonproducers—(purchased from nonproducers
marketing by this cooperative) $
8

9

10

for

$
$

c Nonproducers

$

c

a

Other (specify)

b

Cash

Accrual

If you checked “Yes,” enter the name and employer
identification number of the parent corporation

Federated cooperatives only:

a Are all of this cooperative’s member cooperatives exempt
under section 521?

b If “No,” do the nonexempt member cooperatives have the
same annual accounting period as this cooperative’s?
If “No,” check the box that identifies the method that the
cooperative used, or will use, to provide a common or
comparable unit of time for analyzing and evaluating its
operations and those of its members. (Note. The methods
listed do not apply to the filing of returns or the manner in
which operating results are reported by a federated
cooperative and its members.)

Sign
Here

15 Enter tax-exempt interest received or accrued during the

$
tax year

17 Is the cooperative a subsidiary in an affiliated group or a
parent-subsidiary controlled group?

Does the cooperative allocate income from business done
for the U. S. or its agencies to all patrons? (If “Yes,” attach
a statement explaining how patronage dividends are
allocated (as between producer patrons and purchaser
patrons).)

The books are in the care of
Located at

14 During the tax year, did the cooperative receive a
distribution from, or was it the grantor of, or transferor
to, a foreign trust? If “Yes,” the cooperative may
have to file Form 3520

16 Method of accounting:

Value of supplies and equipment purchased for or sold
to:
a Members who were producers
b Nonmembers who were producers

If “Yes,” write the name of the foreign country

18 At the end of the tax year, did any individual, partnership,
corporation, estate or trust, own, directly or indirectly,
50% or more of the corporation’s voting stock? (For rules
of attribution, see section 267(c).) If yes, complete a and b
below
a Attach a schedule showing name and identifying
number. (Do not include any information already
entered in 1 7 above.)
b Enter percentage owned

19 If the cooperative has an NOL for the tax year and is
electing to forgo the carryback period, check here

If the cooperative is filing a consolidated return, the statement
required by Temporary Regulations section 1.1502-21T(b)(3)(i)
or (ii) must be attached or the election will not be valid.
20 Enter the available NOL carryover from prior tax years (do
not reduce by any deduction on line 29a)
$

Phone no.

(

)

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Paid
Preparer’s
Use Only

Signature of officer
Preparer’s
signature

Firm’s name (or
yours if self-employed),
address, and ZIP code

Date

Title
Date

May the IRS discuss this return with
the preparer shown below (see
Yes
No
instructions)?

Preparer’s SSN or PTIN

Check if
self-employed
EIN
Phone no.

(

)
Form

990-C

(2005)