For purposes of the unrelated business income tax (UBIT),a trade or business consists of any activity conducted for the production of income through the sale of merchandise,or from the performance of services for which profits have been earned during at least two of the five previous years.

Question

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The definition of a trade or business for UBIT purposes does not require profits to have been earned during at least two of the five previous years. It focuses on activities conducted for the production of income from sales or services.

For Purposes of the Unrelated Business Income Tax (UBIT),a Trade