If the Unrelated Business Income of an Exempt Organization Is

question 65

True/False

If the unrelated business income of an exempt organization is $25,000 or less, the unrelated business income tax
(UBIT) is $0.

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Definitions:

Insurance Agreement

A formal contract where one party agrees to indemnify another against loss, damage, or liability in return for payment of a premium.

Demonstrated Requirements

Clearly defined and verified needs or conditions that must be met or complied with.

Limitation Clauses

Provisions in a contract or law that restrict the time period within which a legal action can be brought or certain rights can be enforced.

Insurance Contracts

Agreements between an insurance provider and an individual or entity, outlining the terms for coverage against specified risks in exchange for premiums.