Laws, Regulations & Annotations

W

880.0000 WELFARE EXEMPTION

(b) WELFARE EXEMPTION – CHARITABLE PURPOSES

Annotation 880.0570

880.0570 Unrelated Income. Pursuant to Revenue and Taxation Code section 214.05, if an organization whose property is otherwise eligible for exemption receives taxable unrelated business income, i.e., income after expenses, from the use of a portion of that property, it will receive only a partial exemption for the property. Once it is determined that unrelated business taxable income is produced, exemption is limited to the proportion of the value of the property producing the unrelated business taxable income that the total gross income exempt from taxation produced by that portion of the property bares to the total gross income attributable to that portion of the property. C 6/20/1989.