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Instead of a Form 1099, MLP investors receive a Schedule K-1 tax form. As a consequence of their pass-through status, holding MLPs in tax-exempt accounts may generate Unrelated Business Income Tax (UBIT). [2] To encourage tax-exempt investors, some MLPs set up C corporation holding companies of limited partner which can issue common equity. [3]
Summary Unrelated Business Taxable Income (UBTI) is the income that can trigger Unrelated Business Income Tax (UBIT) for tax-exempt organizations and retirement accounts. Investors can own MLPs ...
Here’s how a master limited partnership works, examples of MLPs and their pros and cons.
Unrelated Business Income Tax (UBIT) in the U.S. Internal Revenue Code is the tax on unrelated business income, which comes from an activity engaged in by a tax-exempt 26 U.S.C. 501 organization that is not related to the tax-exempt purpose of that organization.
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The IP Name Number is the code for a name or pseudonym related to an entity (natural person or a legal entity). One entity can have several names. Prince for example has the IPI-codes 00045620792 (Nelson Prince Rogers), 00052210040 (Prince) and 00334284961 (Nelson Prince R). The IPI Name Number is composed of eleven numeric digits. [3]
When a child is no longer attending a school, for whatever reason, their data can be viewed for historical reasons but is generally hidden from view in the day-to-day running of the school. The software will allow the school to continue to run reports and produce letters to parents, as occasionally it is necessary to do so.
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