Definitions for "UBIT"
A tax levied on the unrelated business income of a nonprofit; the tax is equivalent to corporate taxes.
Unrelated Business Income Tax. A tax to which the recharge or cost center may be subject. This occurs when external users are charged more than cost AND the activity is a trade or business, it is conducted regularly, and it is not substantially related to the university's exempt educational or scientific purposes.
Is the Unrelated Business Income Tax. It effects the tax status of previously recognized tax-exempt entities.