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State Farm Insurance is a group of mutual insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property, casualty and auto insurance provider in the United States.
Millions of State Farm Insurance customers in Texas have been overcharged by the company since 2003, and are owed approximately $350 million by the insurer, a judge ruled Monday. Texas District ...
[2] A "patronage dividend" is money paid by a cooperative to its patrons on the basis of business done with these patrons, pursuant to a pre-existing obligation, and based on the net earnings of the cooperative from the business done. [3] In practice, cooperatives typically charge their members for services and refund the profits proportionately.
The wealthiest one percent of Oregon taxpayers received one-fifth of the refund, [10] as the kicker refund is proportional to the tax paid. That same year, eighty-six percent of the corporate refund went to multistate corporations, and four percent of the total number of corporations received ninety-three percent of the corporate refund. [10]
If you're an early bird, your refund may have been sent already. For the rest of us, here's about how long it may take to get that money back.
This type of dividend is sometimes known as a patronage dividend or patronage refund, as well as being informally named divi or divvy. [ 38 ] [ 39 ] [ 40 ] Producer cooperatives, such as worker cooperatives , allocate dividends according to their members' contribution, such as the hours they worked or their salary.
Gross income includes "all income from whatever source", and is not limited to cash received. It specifically includes wages, salary, bonuses, interest, dividends, rents, royalties, income from operating a business, alimony, pensions and annuities, share of income from partnerships and S corporations, and income tax refunds. [3]
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