[Code of Federal Regulations]
[Title 26, Volume 7]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.511-1]

[Page 140]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1_INCOME TAXES--Table of Contents
 
Sec. 1.511-1  Imposition and rates of tax.

    Section 511(a) imposes a tax upon the unrelated business taxable 
income of certain organizations otherwise exempt from Federal income 
tax. Under section 511(a)(1), organizations described in section 
511(a)(2)(A) and in paragraph (a) of Sec. 1.511-2 and organizations 
described in section 511(a)(2)(B) are subject to normal tax and surtax 
at the corporate rates provided by section 11. Under section 511(b)(1), 
trusts described in section 511(b)(2) are subject to tax at the 
individual rates prescribed in section 1(d) of the Code as amended by 
the Tax Reform Act of 1969 (section 1 for taxable years ending before 
Jan. 1, 1971). The deduction for personal exemption provided in section 
642(b) in the case of a trust taxable under subchapter J, chapter 1 of 
the Code, is not allowed in computing unrelated business taxable income.

[T.D. 7117, 36 FR 9421, May 25, 1971]