Which of the following statements are correct with respect to the unrelated business income tax?
A)Under certain circumstances,a corporate sponsorship payment can be classified as not being an unrelated trade or business.
B)Under certain circumstances,a casino game can be classified as not being an unrelated trade or business.
C)Under certain circumstances,the distribution of low-cost articles can be classified as not being an unrelated trade or business.
D)Only a.and c.are correct.
E)a. ,b. ,and c.all are correct.

Question

Quizplus · Accepted Answer

Only statements A and C are correct. Under certain circumstances, a corporate sponsorship payment and the distribution of low-cost articles can be classified as not being an unrelated trade or business. However, a casino game is unlikely to ever be classified as not being an unrelated trade or business.

Which of the Following Statements Are Correct with Respect to the Unrelated