School has been paying the UBIT every year. To reduce or eliminate this year's tax liability, School might:
A) Relate the profit-making activities to its educational purpose.
B) Conduct the profit-making activities on a regular basis.
C) Both a. and b.
D) Neither a. nor b.

Question

Quizplus · Accepted Answer

Relating the profit-making activities to its educational purpose can help the school qualify for an exemption from the Unrelated Business Income Tax (UBIT).

School Has Been Paying the UBIT Every Year