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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]
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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In July 1983, the Ohio General Assembly began earmarking Lottery profits for education. It was made permanent in 1987 when voters approved a constitutional amendment to make Lottery profits a supplement revenue stream for education. As of 2020, the Ohio Lottery has contributed more than $26 billion to education beginning in 1974. [5]
SOURCE: Integrated Postsecondary Education Data System, Ohio State University-Main Campus (2014, 2013, 2012, 2011, 2010). Read our methodology here. HuffPost and The Chronicle examined 201 public D-I schools from 2010-2014. Schools are ranked based on the percentage of their athletic budget that comes from subsidies.
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