Terms Used In Connecticut General Statutes > Chapter 208a - Unrelated Business Income of Nonprofit Corporations Tax

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• banks: shall include all incorporated banks. See Connecticut General Statutes 1-1
• Commissioner: means the Commissioner of Revenue Services. See Connecticut General Statutes 12-242aa
• Contract: A legal written agreement that becomes binding when signed.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Internal Revenue Code: means the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended. See Connecticut General Statutes 12-242aa
• Organization: means an organization described in Section 511(a)(2)(A) of the Internal Revenue Code or a trust described in Section 511(b)(2) of the Internal Revenue Code. See Connecticut General Statutes 12-242aa
• Personal property: All property that is not real property.
• Taxable year: means the calendar year upon the basis of which the taxpayer's unrelated business taxable income is computed, provided, if a fiscal year other than a calendar year has been established for purposes of the Internal Revenue Code, "taxable year" means such fiscal year. See Connecticut General Statutes 12-242aa
• Taxpayer: means any organization which is exempt from taxation in accordance with any of the provisions of Section 501 of the Internal Revenue Code and which, notwithstanding the provisions of said Section 501, is subject to taxation under said code on unrelated business taxable income attributable to a trade or business carried on in this state. See Connecticut General Statutes 12-242aa
• Unrelated business taxable income: means income as defined and determined in accordance with Section 512 of the Internal Revenue Code and subsection (b) of this section. See Connecticut General Statutes 12-242aa
• Unrelated trade or business: means unrelated trade or business as defined in the Internal Revenue Code. See Connecticut General Statutes 12-242aa