Cooperative

Cooperative means:
a union of individuals, such as tenants, farmers, or laborers, formed for the production in common of some product or service to members. Any profits or losses are shared in accordance with the labor or capital contributed by each member. Special income tax rules allow tenant shareholders to deduct interest and property taxes paid by real estate cooperatives, just as if those items had been paid by owners of single-family homes. Former IRC (check if this IRC provision is current here) §501.

See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.

See Property Tax in the American Legal Encyclopedia and Property Tax in the World Legal Encyclopedia.