Does your unit generate self-supporting revenue through Facility Use Agreements (FUAs) or Technical Testing Agreements (TTAs)? If so, please keep the following guidelines in mind:
- Policy Guidance: Section 22.7 (Management and Accounting for FUAs and TTAs) of the Business and Finance Policies and Procedures defines FUAs and TTAs, provides examples, and outlines the accounting requirements for managing these activities.
- UBIT Considerations: FUA and TTA activity may generate unrelated business income, which could lead to Unrelated Business Income Tax (UBIT) liabilities. For additional information, refer to Section 22.7 and the Rental Income and Income from Research sections of Section 18.13.
Contact
For further assistance, contact the appropriate subject matter experts by searching for “Self-Supporting Funds” or “UBIT” in the Business and Finance Who to Ask list.
In addition, you may also email treasurytax@uillinois.edu with any tax-related questions.
