The presence of these activities does not necessarily mean that a tax liability exists. It may be determined that the activity is not subject to unrelated business income tax, or if it is a taxable activity, the revenue may generally be offset by the expense incurred.
Source: University of North Carolina Accounting Services, 1995
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Appendix M: University Unrelated Business Income Policy ."
Technology Commercialization: Russian Challenges, American Lessons . Washington, DC: The National Academies Press,
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