Match the Following Statements

question 136

Short Answer

Match the following statements.
a.Exempt from tax on unrelated business.b.Inappropriate definition.c.Exempt organization may be subject to the tax on unrelated business income.d.Annual information return of an exempt organization that is required to file a return and which is not a private foundation.e.Appropriate definition.f.Annual information return of a private foundation.
-Debt-financed income is the net income from debt financed property.

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Definitions:

LLLPs

Limited Liability Limited Partnerships, a form of business organization that offers both general and limited partners limited liability protection.

General Partner

A partner in a partnership who has unlimited liability and is responsible for managing the business.

Fiduciaries

Individuals or entities that hold a legal or ethical relationship of trust, requiring them to act in the best interest of the beneficiary.

Operating Agreement

A contract among the members of a Limited Liability Company (LLC) outlining the business's financial and functional decisions.