Topic: Unrelated Business Income Tax (UBIT)
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IRS: 26 CFR 1.511-4
Taxation of Business Income of Certain Exempt Organizations 1.511-4 Provisions generally applicable to the tax on unrelated business income.
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0041 Unrelated Business Taxable Income
This release applies to all state-chartered credit unions. Federal credit unions are considered instrumentalities of the U.S. and are exempt from the unrelated business taxable income rules.
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U.S. Code: 26 USC §§ 511-515
Internal Revenue Code – Subtitle A – Income Taxes – Chapter 1 – Normal Taxes and Surtaxes Subchapter F – Exempt Organizations Part III – Taxation of Business Income of […]