Nonprofit Radio: Unrelated Business Income Tax and Fringe Benefits

I’ll be on Nonprofit Radio this Friday, June 1, at 10:30 am PT / 1:30 pm ET talking with host Tony Martignetti about the unrelated business income tax and how charities who provide certain transportation- or parking-related fringe benefits to their employees may now be required to pay the tax even if they have no unrelated business income. Basics of the Unrelated Business Income Tax Net income from unrelated business activities will generally be subject to the unrelated business income tax (UBIT) if the activity constitutes: a trade or business; that is regularly carried on; and is not substantially related to the organization’s exempt purpose. This general rule is subject to several exceptions and modifications. You can read more about the UBIT laws at Unrelated Business Income Tax Explained and Unrelated Business Taxable Income – What Doesn’t Count? “Tax Cuts and Jobs Act” Tony and I previously discussed…

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