Statutory Exceptions – Even if an activity meets the definition of an unrelated trade or business, it may not be subject to tax if it meets the following criteria: Modifications to Income – The ...

Although the University generally is exempt from income tax, it is subject to tax on certain activities that may generate unrelated business income (UBI). An activity generates UBI if: it is a trade ...

Unfortunately, that's sometimes not an option for an MLP because of something called unrelated business taxable income, or UBTI, that can leave investors owing tax on assets in a retirement account.

CPAs can help not-for-profits understand what revenue is subject to the unrelated business income tax (UBIT) and navigate the rules surrounding the tax. Under the Sec. 6417 direct-pay election, ...

1.513-1(d)(3)). If the activity is determined to likely generate unrelated business taxable income (i.e., be subject to UBIT), the department will need to complete a Unrelated Business Income (UBIT) ...