Title: Inquiry Regarding Income Tax Ruling 3712 for Livestock Breeders, 1945-06-12

Item — Box: 3, Folder: 31

Identifier: CAC_CC_047_1_3_31_0005

Staff Only

Roy Pauli, an auctioneer from Broken Arrow, Oklahoma, wrote to Congressman George B. Schwabe regarding a recent ruling by the Internal Revenue Department that affects income tax for livestock breeders. Pauli expressed concerns that the ruling could negatively impact breeders who sell a major part of their breeding herds. The Commissioner of Internal Revenue, Joseph D. Nunan, clarified that the ruling only applies to the sale of the products of a breeding herd, not the actual herd itself. Pauli requested that Congress take action to define livestock sales for breeders as capital assets and subject to long-term investment provisions.

Dates

1945-06-12

Language of Materials

English

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