Unrelated Business Income Tax (UBIT) Survey
Goal of the Questionnaire:
The Internal Revenue service has rules to prevent tax exempt organizations from having an unfair advantage over for-profit businesses that do pay tax on their profits. In recent years, universities have come under IRS scrutiny for the information they report on their annual 990-T form or Unrelated Business Income Tax return (UBIT). To make sure NCSU is in compliance with the IRS regulations and our 990T form is accurate, we are asking departments to provide information on their revenue generating activities by 9/30/2023. Even though most activities will not generate tax and are consistent with our exempt purposes, we need your assistance to complete the below questionnaire to ensure NCSU is in compliance with IRS requirements.