Effective January 8, 2020, this policy has been revised. For the most current version without redlining, return to I-2.2.
The University of Iowa is tax exempt under Section 115 of the United States Internal Revenue Code. The University of Iowa is not subject to federal income tax as a governmental unit under the doctrine of implied statutory immunity. The University is subject to the unrelated business income tax imposed by Internal Revenue Code section 511(a)(2)(B). Charitable contributions to the University are deductible to the taxpayer.
(See also V-13 Internal Audits; V-5.5 Facilities and Administrative Costs.)