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Unrelated Business Income Tax

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Your client is a nongovernmental not-for-profit museum that operates a gift shop. Explain the unrelated business income tax to your client and suggest ways to avoid this tax.

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Solution Summary

This solution discusses unrelated business taxes and ways a client may be able to avoid this tax.

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Unrelated business income is income that is derived from a source outside of the main scope of the normal business activities for the nonprofit entity. If the museum was selling raffle tickets for a fundraiser for (insert your cause here), it would be unrelated business income, and the nonprofit entity would be responsible for paying income taxes on the ...

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