Which of the following statements are correct with respect to the unrelated business income tax?
A)Under certain circumstances,a corporate sponsorship payment can be classified as not being an unrelated trade or business.
B)Under certain circumstances,a casino game can be classified as not being an unrelated trade or business.
C)Under certain circumstances,the exchanging or renting of membership lists to other exempt organizations can be classified as not being an unrelated trade or business.
D)Only a.and c.are correct.
E)a.,b.,and c.all are correct.

Question

Quizplus · Accepted Answer

Option A and C are correct. Under certain circumstances, a corporate sponsorship payment and exchanging or renting of membership lists to other exempt organizations can be classified as not being an unrelated trade or business. Option B is incorrect as a casino game is generally considered a commercial activity and would not qualify as exempt under the unrelated business income tax.

Which of the Following Statements Are Correct with Respect to the Unrelated