net unrelated income — U.S. Code definitions

Net unrelated income.—The term “net unrelated income” means—

(I) in the case of a controlled entity which is not exempt from tax under section 501(a), the portion of such entity's taxable income which would be unrelated business taxable income if such entity were exempt from tax under section 501(a) and had the same exempt purposes (as defined in section 513A(a)(5)(A) 1) as the controlling organization, or

(II) in the case of a controlled entity which is exempt from tax under section 501(a), the amount of the unrelated business taxable income of the controlled entity.

Source

1997–1998 26 U.S.C. § 512Internal Revenue Code · Unrelated business taxable income · for purposes of this title

Net unrelated income.—The term "net unrelated income" means—

(I) in the case of a controlled entity which is not exempt from tax under section 501(a), the portion of such entity's taxable income which would be unrelated business taxable income if such entity were exempt from tax under section 501(a) and had the same exempt purposes as the controlling organization, or

(II) in the case of a controlled entity which is exempt from tax under section 501(a), the amount of the unrelated business taxable income of the controlled entity.

Source

1998–2020 26 U.S.C. § 512Internal Revenue Code · Unrelated business taxable income · for purposes of this title

The term “net unrelated income” means—

(I) in the case of a controlled entity which is not exempt from tax under section 501(a), the portion of such entity’s taxable income which would be unrelated business taxable income if such entity were exempt from tax under section 501(a) and had the same exempt purposes as the controlling organization, or

(II) in the case of a controlled entity which is exempt from tax under section 501(a), the amount of the unrelated business taxable income of the controlled entity.

Source

2013–present 26 U.S.C. § 512Internal Revenue Code · Unrelated business taxable income · for purposes of this title