Tax Glossary IGTax
There are currently 8 names in this directory beginning with the letter U.
U
UNITARY APPORTIONMENT
Formula by which the share of a corporation's net income subject to tax in California is determined. California's share of the reportable income of a
unitary corporation is apportioned to California using factors of property, payroll and sales. Often erroneously referred to as "unitary tax" --it is not a separate tax, but a method of apportioning income.
unitary corporation is apportioned to California using factors of property, payroll and sales. Often erroneously referred to as "unitary tax" --it is not a separate tax, but a method of apportioning income.
UNRELATED BUSINESS INCOME (UBI)
Income earned by tax-exempt nonprofit organizations that is not related to the organization's exempt purpose but is derived from a trade or business activity that is regularly carried on by the organization. UBI is subject to income tax, even though the organization's exempt-purpose income is not.
UNSECURED ROLL
That part of the assessment roll, consisting largely of business personal property, on which the taxes are not secured by a lien on real property.
UNSECURED TAX RATE
Prior year's secured roll tax rate, which is levied against current year's unsecured roll.
USE TAX
A tax on goods purchased outside the state and delivered to California for use in the state. A use tax is designed to remove inequities between purchases made within and those made outside the state. Companion to the sales tax, the burden for payment is with the purchaser.