New Unrelated Business Income Tax Activity Questionnaire

New UBIT (Unrelated Business Income Tax) Activity Questionnaire
This questionnaire is provided by the Controller’s Office and should be completed for all activities that have a potential to create unrelated business income.

Purpose
This questionnaire is NOT intended to discourage or eliminate unrelated activities. The Controller’s Office will review each activity to determine if any exclusions apply or if the activity is taxable.

An activity is considered “Unrelated” by the IRS and therefore subject to tax when it meets the following three criteria.

The activity is a trade or a business.
The activity is regularly carried on.
The activity is not substantially related to the exempt purpose of the organization.

Program Code: (Required)

Description of Activity: (Required)

If an activity is undertaken with the intent to create a profit through the sale of goods or the performance of a service it is considered a trade or business.

Will this activity have income in excess of expenses upon commencement or at some point in the future? (Required)

Yes
No

If yes, please provide a copy of the budgeted income and expenses.

Upload budgeted income and expense information.

If it will become profitable at some point in the furtue, what date do you expect it to become profitable?

An activity is regularly carried on unless it is performed infrequently or discontinuously.

Will this activity be carried on for an extended period of time? (Required)

Yes
No

If no, does it occur annually or monthly?

Yes
No

How long do you expect the project or activity to continue?

Explain how the activity enhances or furthers the University's educational, teaching, research or community outreach exempt purposes. (Required)

Contact Name: (Required)

Contact E-Mail Address (Required)

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New Unrelated Business Income Tax Activity Questionnaire

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