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Tax guidance issued for parking‐related income
Publication year - 2019
Publication title -
nonprofit business advisor
Language(s) - English
Resource type - Journals
eISSN - 1949-3193
pISSN - 1531-5428
DOI - 10.1002/nba.30548
Subject(s) - taxable income , treasury , tax deduction , deductible , business , income tax , finance , actuarial science , accounting , gross income , state income tax , public economics , economics , tax reform , archaeology , history
The U.S. Treasury has issued new guidance on how tax‐exempt organizations can compute “unrelated business taxable income,” or UBTI, relating to parking spaces that are provided to their employees. For taxable employers, the guidance helps determine the amount of parking expenses that is no longer tax‐deductible.