Monroe City, MO | You are 100 percent correct. Their business model is similar to private businesses. Try and buy low, sell as high as possible and give back a pittance to their owners as a patronage.
Retain 2/3 of the patronage, give the member enough to pay the tax on the patronage earned and use the retained earnings interest free for an indefinite period of time.
Cooperatives are a outdated useless business structure. |