Unrelated Business Income Tax

Unrelated Business Income Tax (UBIT) in the U.S. Internal Revenue Code is the tax on unrelated business income, which comes from an activity engaged in by a tax-exempt 26 USCA 501 organization that is not related to the tax-exempt purpose of that organization.

Read more about Unrelated Business Income Tax:  Requirements, Tax Rate, UBIT in An IRA, See Also

Famous quotes containing the words unrelated, business, income and/or tax:

    Character always ... is thus distinct and unrelated to near or trivial objects, whether things or persons.
    Henry David Thoreau (1817–1862)

    They that go down to the sea in ships, that do business in great waters, these see the works of the Lord and his wonders in the deep.
    Bible: Hebrew Psalms, 107:23-4.

    The bread-winner must toil as in the fruitless effort of a troubled dream while the expenditure of an uneducated wife discounts the income in the lack of understanding to discern the broad possibilities of an intelligent economy.
    Anna Eugenia Morgan (1845–1909)

    Rumble thy bellyful! Spit, fire! Spout, rain!
    Nor rain, wind, thunder, fire are my daughters.
    I tax you not, you elements, with unkindness;
    I never gave you kingdom, called you children.
    William Shakespeare (1564–1616)