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Insurance Products Provide Taxable Income to State Credit Unions, IRS Says  


Author:  Staff Editors.


Source: Volume 20, Number 05, May/June 2007 , pp.51-54(4)




Journal of Taxation and Regulation of Financial Institutions

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Abstract: 

In technical advice, the IRS considered whether a state chartered credit union deriving income from certain types of insurance and other activities produced unrelated business taxable income under Section 511. Of the six specified activities, the IRS concluded that four produced UBIT, but two did not.

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