Financial Services and Research, Discovery & Innovation are now accepting applications for the twelfth cohort of the Financial Administrator Series (FAS) to be held in calendar year 2020.
Financial Services is gathering information for the FY 2019 Unrelated Business Income Tax (UBIT) filing. The University is exempt from federal income tax as an integral part of the state of Arizona when revenue is generated from activities substantially related to its exempt purposes, which include research and discovery, teaching and learning and outreach and public service.
However, revenue generating activity may be subject to federal UBIT when these conditions exist:
As Financial Services reviews current year unrelated business income (UBI) activity, we want to take a moment to remind departments to notify Tax Services of any potential UBI activities.
Revenue generating activity may be subject to federal unrelated business income tax (UBIT) when the following conditions exist:
As previously announced in late September, Financial Services is remodeling our space in the University Services Building (USB) rooms 402 and 502.
We are pleased to inform Campus that Phase 1 of the remodel (room 402) is complete. Teams and services have returned to normal for units previously located in this office. Many of our employees are in a new location in the room, so if you are visiting be sure to stop at the front desk for directions.
Financial Services is remodeling our space in the University Service Building (USB) rooms 402 and 502 starting October 1 through early December. In order to maintain continued service to our customers, we have identified temporary work locations for our employees and customer service teams.
In November 2017, Tucson resident voters approved a tenth of a percent increase to the City of Tucson sales tax rate. Accordingly, effective February 1, 2018, the rate rose from 2.5% to 2.6%, increasing the total retail sales tax rate in Tucson, AZ from 8.6% to 8.7%. As UA is exempt from the collection of City of Tucson sales tax for sales made by the UA, this change will only apply to purchases from Tucson vendors located within the city limits.
This change has no impact on Arizona use tax assessment, which remains at 5.6%.