Business Procedures Manual

Fiscal Affairs Division

23.5 UBI Tax Liability Calculation and Budgeting

(Last Modified on December 22, 2010)

Net UBI reported by the institution is subject to normal applicable corporate income tax rates. Any tax liability owed by the institution for UBI activities must be funded by revenues from the UBI activities, individually or collectively. UBI tax liabilities should not be paid from current unrestricted or restricted operating funds.

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