You may be familiar with the fact that even tax-exempt organizations have to pay tax on income from an activity that is regularly carried on if it is not substantially related to the organization’s exempt purpose. This is known as “unrelated business income tax” or UBIT. Under the 2017 Tax Cuts and Jobs Act (“TCJA”), tax-exempt organizations have to calculate UBIT differently than before. With clear examples and hypotheticals, this article very generally explains the changes under the TCJA, and how they might be relevant to your organization.
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