Unrelated business taxable income definition

Unrelated business taxable income means the same as in the Internal Revenue Code, except that in the computation thereof sections 235-3 to 235-5, and 235-7 (except subsection (c)), shall apply, and in the determination of the net operating loss deduction there shall not be taken into account any amount of income or deduction that is excluded in computing the unrelated business taxable income. Unrelated business taxable income shall not include any income from a legal service plan.
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Unrelated business taxable income means the same as in the Internal Revenue Code, except that:
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Unrelated business taxable income means the same as in the 2 Internal Revenue Code, except that in the computation thereof 3 sections 235-3 to 235-5, and 235-7 (except subsection (c)), shall 4 apply, and in the determination of the net operating loss 5 deduction there shall not be taken into account any amount of 6 income or deduction which is excluded in computing the unrelated 7 business taxable income. Unrelated business taxable income shall 8 not include any income from a prepaid legal service plan. 9 For a person described in section 401 or 501 of the Internal 10 Revenue Code, as modified by section 235-2.3, the tax imposed by 11 section 235-51 or 235-71 shall be imposed upon the person's 12 unrelated business taxable income. 13 (k) Section 521 (with respect to cooperatives) and 14 subchapter T (sections 1381 to 1388, with respect to cooperatives 15 and their patrons) of the Internal Revenue Code shall be 16 operative for the purposes of this chapter as to any cooperative 17 fully meeting the requirements of section 421-23, except that 18 Internal Revenue Code section 521 cooperatives need not be 19 organized in Hawaii. 20 (l) Sections 527 (with respect to political organizations) 21 and 528 (with respect to certain homeowners associations) of the 22 Internal Revenue Code shall be operative for the purposes of this 23 chapter and the taxes imposed in each such section are hereby
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Examples of Unrelated business taxable income in a sentence

  • Unrelated business taxable income does not, in general, include interest, dividends, rents from real property, gain from the sale of property other than inventory or property held primarily for sale to customers in the ordinary course of business, and certain other types of passive investment income, unless such income is derived from "debt-financed property" as defined in Section 514 of the Code.

  • Unrelated business taxable income increased by amount of certain fringe expenses for which deduction is disallowed.

  • Unrelated business taxable income separately computed for each trade or business activity 153 Sec.

  • Unrelated business taxable income" has the same meaning as in the Code, Section 512.[PL 2019, c.

  • Unrelated business taxable income includes certain debt financed income.

  • Compromise was reached during the 2017 season and lobster traps are monitored to prevent them from becoming an issue to navigation.

  • Unrelated business taxable income (UBTI) refers, generally, to net income derived from the conduct of an active trade or business (versus investment activity or real estate ownership or rental) and net income derived from most debt-financed property.

  • Unrelated business taxable income (“UBTI”) includes “the gross income derived by any organization from any unrelated trade or business ….regularly carried on by it….” IRC § 512(a)(1).

  • Unrelated business taxable income includes gross income received from the unrelated trade or business by the IRA, less those deductions allowed under the IRC, such as the trade or business expense of Section 162 or depreciation under Section 167 which is directly connected with the carrying on of such trade or business, together with the exceptions, additions and limitations allowed by Section 512(b).

  • EXCEPTIONS/MODIFICATIONS Unrelated business taxable income does not include income from: (1) any trade or business in which substantially all the work in carrying on the trade or business is performed for the exempt organization without compensation (the “volunteer exception”); (2) any trade or business carried on by a Section 501(c)(3) organization primarily for the convenience of its members, students, patients, etc.


More Definitions of Unrelated business taxable income

Unrelated business taxable income. The Manager shall prevent the Company from recognizing "unrelated business taxable income" within the meaning of Sections 511 through and including 514 of the Code ("UBTI"); provided, that the Manager's obligations to avoid UBTI shall be deemed to have been met with respect to a Tranche II LSL Property so long as the transaction involving a Tranche II LSL Property meets the requirements of Section 3.6(i) of this Agreement; and provided further, that if the Manager determines at any time after the making of a Tranche II LSL Loan that the Company must report interest payments received in respect of any Tranche II LSL Loan as UBTI, then the Manager shall comply with the following provisions of this Section 3.11(c) with regard to such Tranche II LSL Loan. The Fund shall have the right, at the Company's expense, to consult legal counsel in order to determine if the Company or the Fund would recognize UBTI as a result of any property, business venture or activity. If the Asset Manager, the Manager, LXP or the Fund anticipates the recognition by the Company or the Fund of any UBTI, then the Manager shall cause the Company to avoid the recognition of such UBTI, including without limitation disposing of the Tranche II Property or Tranche II Properties (or Tranche II LSL Loan) expected to generate the UBTI. Notwithstanding any provision in this Agreement to the contrary, the fees of the Company's and the Fund's legal counsel and the costs incurred by the Company in connection with any action taken pursuant to this Section 3.11(c) shall be borne by the Company.
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Unrelated business taxable income. The Manager shall prevent the Company from recognizing "unrelated business taxable income" within the meaning of Sections 511 through and including 514 of the Code ("UBTI"); provided, that the Manager's obligations to avoid UBTI shall be deemed to have been met with respect to an LSL Property so long as the transaction involving an LSL Property meets the requirements of Section 3.6(i) of this Agreement; and provided further, that if the Manager determines at any time after the making of an LSL Loan that the Company must report interest payments received in respect of any LSL Loan as UBTI, then the Manager shall comply with the following provisions of this Section 3.11(c) with regard to such LSL Loan. The Fund shall have the right, at the Company's expense, to consult legal counsel in order to determine if the Company or the Fund would recognize UBTI as a
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Unrelated business taxable income will have the meaning specified in Code Sections 512 and 514 and the Regulations thereunder.
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Unrelated business taxable income as defined in Section 512 of the Code.
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Unrelated business taxable income means the same as in
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Unrelated business taxable income means "unrelated business taxable income" as used in Section 512 of the Internal Revenue Code."
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Related to Unrelated business taxable income

  • Taxable income means, in the case of an individual, federal adjusted gross income determined without regard to 26 U.S.C. § 168(k) and:

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Consolidated Businesses means, at any time, the Borrower and Subsidiaries of the Borrower that the Borrower consolidates in its consolidated financial statements prepared in accordance with GAAP, provided, however, that UJVs which are consolidated in accordance with GAAP are not Consolidated Businesses.

  • Controlled unaffiliated business means a company:

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Affiliated business entity relationship means a relationship, other than a parent- subsidiary relationship, that exists when

  • MUNICIPAL TAXABLE INCOME means the following:

  • regulated business means a business which is required to be licensed under one or other of the regulatory laws;

  • Related Business means any business in which the Company or any of the Restricted Subsidiaries was engaged on the Issue Date and any business related, ancillary or complementary to such business.

  • casual taxable person means a person who occasionally undertakes transactions involving supply of goods or services or both in the course or furtherance of business, whether as principal, agent or in any other capacity, in the taxable territory where he has no fixed place of business;

  • taxable service means any service provided or to be provided –

  • Unitary business means one or more related business organizations engaged in business activity both within and outside the State among which there exists a unity of ownership, operation, and use; or an interdependence in their functions.

  • Minority or Women-Owned Business Enterprise means a business enterprise, including a sole proprietorship, partnership or corporation that is:

  • Qualified business means a for-profit business that obtains services relating to that business from 30 or fewer employees or employees of independent contractors performing services substantially similar to employees during a random week in the year ending on the tax day. If a person is a unified business group as that term is defined in section 117 of the Michigan business tax act, 2007 PA 36, MCL 208.1117, the number of employees from whom services are obtained includes all employees of the unitary business group and employees of independent contractors of the unitary business group rendering services to the qualified business.

  • Permitted Business Investment means any Investment made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business including investments or expenditures for actively exploiting, exploring for, acquiring, developing, producing, processing, gathering, marketing or transporting oil, natural gas or other Hydrocarbons and minerals through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties including:

  • Excluded Businesses has the meaning set forth in Schedule 1.

  • Business concern or business means a business that has annual gross sales of less than $75,000,000 as evidenced by the federal income tax return of the business. A firm with gross sales in excess of this cap may apply to the Council for certification for a particular contract if the firm can demonstrate that the contract would have significant impact on businesses owned by minorities, women, or persons with disabilities as suppliers or subcontractors or in employment of minorities, women, or persons with disabilities.

  • Permitted Business Investments means Investments by the Company or any of its Restricted Subsidiaries in any Unrestricted Subsidiary of the Company or in any Joint Venture, provided that:

  • Consolidated Net Income (Loss) of any Person means, for any period, the Consolidated net income (or loss) of such Person and its Subsidiaries for such period on a Consolidated basis as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (or loss), by excluding, without duplication, (i) all extraordinary gains or losses (exclusive of all fees and expenses relating thereto), (ii) the portion of net income (or loss) of such Person and its Subsidiaries on a Consolidated basis allocable to minority interests in unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by such Person or one of its Subsidiaries, (iii) net income (or loss) of any Person combined with such Person or any of its Subsidiaries on a “pooling of interests” basis attributable to any period prior to the date of combination, (iv) any gain or loss, net of taxes, realized upon the termination of any employee pension benefit plan, (v) net gains (or losses) (except for all fees and expenses relating thereto) in respect of dispositions of assets other than in the ordinary course of business, (vi) the net income of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders, (vii) any gain arising from the acquisition of any securities, or the extinguishment, under GAAP, of any Indebtedness of such Person, (viii) transaction costs charged in connection with the Refinancing, or (ix) amortization of intangible assets of such Person and its Subsidiaries on a consolidated basis under GAAP.

  • Consolidated Group means the Borrower and all Subsidiaries which are consolidated with it for financial reporting purposes under GAAP.

  • Taxable value shall have the meaning assigned to such term in Section 1.04(10) of the TEXAS TAX CODE.

  • Tax Liabilities means all liabilities for Taxes.

  • Consolidated Tangible Net Assets means, on any date of determination and with respect to any Person at any time, the total of all assets (including revaluations thereof as a result of commercial appraisals, price level restatement or otherwise) appearing on the consolidated balance sheet of such Person and its Consolidated Subsidiaries most recently delivered to the Lenders pursuant to Section 5.01(i) as of such date of determination, net of applicable reserves and deductions, but excluding goodwill, trade names, trademarks, patents, unamortized debt discount and all other like intangible assets (which term shall not be construed to include such revaluations), less the aggregate of the consolidated current liabilities of such Person and its Consolidated Subsidiaries appearing on such balance sheet.

  • Parent Assets means all Assets of either Party or the members of its Group as of the Effective Time, other than the SpinCo Assets, it being understood that, notwithstanding anything herein to the contrary, the Parent Assets shall include:

  • Disabled Business Enterprise means a business owned by a person with a disability that is a continuing, independent, for-profit business that performs a commercially useful function, and is at least fifty-one (51%) owned and controlled by one (1) or more persons with a disability, or, in the case of any publicly-owned business, at least fifty one percent (51%) of the stock of which is owned and controlled by one(1) or more persons with a disability and whose management and daily business operations are under the control of one (1) or more persons with a disability.