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How to cash in co op shares.
What Is a Patronage Dividend and How Do They Work?
What Is a Patronage Dividend?
A patronage dividend, also known as a patronage refund, is a distribution that a cooperative pays to its members or investors.
How do i claim my co op dividend
Patronage dividends are given based on a proportion of profit that the business makes. Once this amount is determined, management calculates the dividend according to how much each member has used the co-op's services.
Tax rules view these profits essentially as an overcharge, which can be returned to patrons and deducted from the co-op's taxable income.
Key Takeaways
- Patronage dividends are those distributions of profits paid by a co-operative to their owners.
- Patronage dividends are paid based on a portion of the profit the business makes.
- The exact dividend each member receives is based on how much they used the co-op’s services or how much in products they purchased.
- Patronage dividends can be used to reduce taxable income for cooperatives if they meet certain criteria.
How a Patronage Dividend Works
A patronage dividend is essentially a refun
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