Get the free Unrelated Business Income Tax Return

Georgia Form 600-T (Rev. 1/09) Exempt Organization Unrelated Business Income Tax Return Mailing Address Georgia Department of Revenue Processing Center P.O. Box 740397 Atlanta, Georgia 30374-0397

How to fill out unrelated business income tax

How to fill out unrelated business income tax:

Determine if your organization has unrelated business income:

1. Review your organization's activities and determine if they generate income that is unrelated to your organization's exempt purpose.
2. Unrelated business income generally includes income from activities such as advertising, rental income, and certain trade or business activities.

Gather necessary documentation:

1. Collect all relevant financial documents, such as income statements and expense receipts, related to the unrelated business income.
2. Have your organization's Employer Identification Number (EIN) handy as it will be required for tax filing purposes.

Complete Form 990-T:

1. The Form 990-T, Exempt Organization Business Income Tax Return, is used to report and pay unrelated business income tax.
2. Fill out the form accurately, providing details of your organization's income, deductions, and exemptions. Consult the instructions provided with the form for guidance.

Calculate unrelated business taxable income:

1. Subtract allowable deductions from your organization's gross unrelated business income to arrive at unrelated business taxable income.
2. Deductions can include expenses directly related to the production of the unrelated business income.

Determine if estimated tax payments are necessary:

1. If your organization expects to owe $500 or more in unrelated business income tax, it may need to make estimated tax payments throughout the year.
2. Use Form 990-W, Estimated Tax on Unrelated Business Taxable Income for Tax-Exempt Organizations, to calculate and submit estimated tax payments if necessary.

File the completed form:

1. Submit the completed Form 990-T and any required payment to the appropriate IRS office by the due date.
2. Ensure you retain a copy of the filed form for your records.

Who needs unrelated business income tax?

1. Nonprofit organizations: Nonprofit organizations or charities that engage in activities generating unrelated business income may need to file and pay unrelated business income tax.
2. Educational institutions: Colleges, universities, and other educational organizations that generate unrelated business income may be subject to unrelated business income tax.
3. Social clubs: Certain social clubs that generate unrelated business income may also need to file and pay unrelated business income tax.
4. Business leagues and trade associations: These organizations may need to report and pay unrelated business income tax if they generate income unrelated to their exempt purpose.

Remember to consult with a tax professional or the Internal Revenue Service (IRS) for specific guidance and requirements related to your organization's unrelated business income tax obligations.

For pdfFiller’s FAQs

What is unrelated business income tax?

Unrelated business income tax is a tax on income generated by a tax-exempt organization from activities that are not substantially related to its exempt purpose.

Who is required to file unrelated business income tax?

Tax-exempt organizations that generate unrelated business income of $1,000 or more are required to file Form 990-T.

How to fill out unrelated business income tax?

To fill out the form, the organization needs to report details of their unrelated business income, deductions, and credits on Form 990-T.

What is the purpose of unrelated business income tax?

The purpose of unrelated business income tax is to prevent tax-exempt organizations from having an unfair advantage over for-profit businesses.

What information must be reported on unrelated business income tax?

The organization must report details of their unrelated business income, expenses, deductions, and credits on Form 990-T.

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