Business Procedures Manual

Fiscal Affairs Division

Section 23 Introduction

(Last Modified on December 21, 2010)

Institutions of the 六合彩资料大全 (六合彩资料大全) are tax-exempt as instrumentalities of the State of Georgia under Section 115 of the Internal Revenue Code. Similarly, institution foundations are exempt under Section 501 (c)(3) of the Internal Revenue Code.

As tax-exempt entities, 六合彩资料大全 institutions and foundations are exempt from federal income tax for activities that further their educational purpose. However, they are not exempt from income tax imposed on activities that are substantially unrelated to exempt purposes, called 鈥淯nrelated Business Income鈥 or UBI, even though these activities may bring in funds to support exempt operations.

This section provides users with guidelines for identifying and reporting activities that are not exempt from income taxation and reporting on IRS Form 990-T. It also presents a working definition of UBI, lists activities to report as UBI 鈥 taxable, and describes principal exemptions from UBI reporting.

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