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units of beneficial interest (UBI)
(Tax Law)
A term used by some trust promoters to identify interests in a trust and to disguise events surrounding the formation of the trust. It is not a term used by the Internal Revenue Code, but is used by trust promoters in an attempt to gain tax advantages (such as a tax-free exchange). The use of this term does not require the Service to grant favorable tax treatment to any transaction.
Source : Internal Revenue Service - United States Department of Treasury
Language : English