43-1231. Taxation of unrelated business
income
Any organization, trust or church or a convention or association of churches which
is exempt, except as provided in this section, from taxation under this title by reason
of section 43-1201, paragraphs 1 through 14 shall be subject to the tax imposed under
section 43-1111 upon its "unrelated business taxable income" as defined in section 512 of
the internal revenue code. Such taxes shall also apply to an organization described in
section 43-1201, paragraph 8 if the income is payable to an organization which itself is
subject to the tax imposed under this section or to a church or to a convention or
association of churches.
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