Most public broadcast stations are licensed to tax-exempt organizations that are subject to familiar FCC rules for underwriting announcements. This webinar explores the less familiar territory of activities in digital and print media that are not subject to FCC broadcast regulation, but that are regulated by the IRS. The webinar will introduce you to the concept of unrelated business income tax (UBIT), the IRS’s definition of “advertising,” and IRS requirements for reporting and paying federal income tax on UBIT. Join Greater Public attorneys John Crigler and Alex Golubitsky for an overview of UBIT and the practical implications of engaging in a commercial “trade or business.” We’ll review some of the pros and cons of embarking on a line of business that is not tax-exempt, the methodology for calculating how much tax could be owed, the tax forms used to report UBIT, and the danger that non-exempt activities could jeopardize an organization’s status as a 501(c) (3) corporation.
Webinar: You Better Believe It: A UBIT Primer
John Crigler, Owner, and Alex Golubitsky, Of Counsel, Garvey Schubert Barer
- May 31, 2017 2:00pm
- Eastern time zone
- |
Most public broadcast stations are licensed to tax-exempt organizations that are subject to familiar FCC rules for underwriting announcements. This webinar explores the less familiar territory of activities in digital and print media that are not subject to FCC broadcast regulation, but that are regulated by the IRS. The webinar will introduce you to the concept of unrelated business income tax (UBIT), the IRS’s definition of “advertising,” and IRS requirements for reporting and paying federal…