NOTE 5 — INCOME TAXES

 

The Cooperative follows the provisions of ASC 740-10 related to accounting for uncertainty in income taxes.

The Cooperative had no unrecognized tax benefits on December 31, 2017 and 2016. No interest or penalties are recognized in the statements of operations or in the balance sheets. 

 

The Cooperative recognized no income tax expense for the years ended December 31, 2017, 2016 and 2015.