Education
UBIT on Commercial Auxiliary Revenue
Accruing Unrelated Business Income Tax on commercial cafeteria sales open to the general public.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| UBIT Expense | Expense (+) | 2,500.00 | - |
| Income Tax Payable (UBIT) | Liability (+) | - | 2,500.00 |
💡 Accountant's Note
When a not-for-profit school earns income from activities unrelated to its educational mission (commercial catering, venue hire to non-students), that income may be taxable.
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