What not-for-profits need to know about UBIT

• Published in: Journal of Accountancy Vol. 235; no. 8; pp. 1 - 4
• Main Author: Dennis, Anita
• Format: Trade Publication Article
• Language: English
• Published: New York American Institute of Certified Public Accountants 01.08.2024
• Subjects: Advertising; Business income; Coffee; Coffeehouses; College basketball; Income taxes; Nonprofit organizations; Profits; Tax rates; Taxable income; Unrelated business income tax

Many not-for-profit organizations dread the unrelated business income tax (UBIT) because it can be a challenge to sort out when a not-for-profit's activities are subject to the tax and when they are not. More than 80,000 exempt organizations filed a 2017 Form 990-T, Exempt Organization Business...