Читать книгу The Tax Law of Charitable Giving - Bruce Hopkins R., Bruce R. Hopkins, David Middlebrook - Страница 51

As indicated, to be subject to the unrelated income rules, an activity must satisfy four tests. The first three of these tests are built into the definition of the phrase unrelated business taxable income. That term is defined as the “gross income derived by any organization from any unrelated trade or business . . . regularly carried on by it, less the deductions allowed . . . [under federal tax law] which are directly connected with the carrying on of such trade or business.”⁵⁴³

Both this gross income and allowable deductions are computed in conformance with the modifications discussed shortly.⁵⁴⁴

Tax-exempt organizations are subject to tax on their unrelated business taxable income at the corporate tax rate (21 percent), or at individual rates if the organization is not incorporated.⁵⁴⁵