Date:

September 13, 2007

Code: AD 07-01

To:

Campus Tax Coordinators

Due Date: November 15, 2007

From:

George V. Ashkar
Senior Director, Controller
Financial Services

Subject:

Unrelated Business Income Tax Worksheet

Attached is the Unrelated Business Income Tax Worksheet. The worksheet is to be completed by the campus and returned to the Chancellor’s Office by November 15, 2007 to facilitate the preparation and filing of the systemwide Form 990-T tax return for 2006/2007 fiscal year. Your timely response is appreciated, and will allow KPMG and internal review of the Form 990-T before its filing. Also attached is information that may be used to assist the campus in completing the worksheet, including:

• Campus Tax Coordinator Roster
• Exempt Organization Accountancy Group, Inc. - UBIT Overview
• Comprehensive UBIT Test – We are providing this as a tool for you to determine if income is business related. Conclusion section (page 14, highlighted in yellow), is mandatory.
• Income Summary Worksheet
• Expense Summary Worksheet
• Depreciation Worksheets
• Prior Years Depreciation Schedule
• Prior Year Taxable Income Listing
• 2006 Instructions for Form 990-T
• IRS Publication 598, Tax on Unrelated Business Income of Exempt Organizations (Rev. March 2005)

For your convenience we have made the worksheets available online in Excel format, and can be found in the coded memoranda.

If you have any questions, please contact Sabo Jonic at (562) 951-4637 or e-mail sjonic@calstate.edu

GVA:SJ:lm AD 07-01

Attachment A (.xls)
Attachment B (.pdf)

Distribution:

FOA Administration
Presidents (without attachments)
Financial Managers
Accounting Officers
Vice Presidents for Finance & Administration
Mr. Richard P. West (without attachments)
Ms. Colleen Nickles