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UBiT |
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If the IRA later sells the S stock, UBIT is paid on the gain. Formed in late 1999 in Tokyo, Ubit developed a cell-phone creation and management system called MS2. The current-law exclusion from the UBIT for certain investment income of a trade association allows the organization's members to obtain an immediate deduction for dues or similar payments to the organization in excess of the amounts needed for current operations, while avoiding tax on a proportionate share of the earnings from investing such surplus amounts. |
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