Income tax II in 1188 to raise money for the Third Crusade. The tithe demanded that each layperson in England and Wales be taxed one tenth of their personal income and moveable property. The inception date of the modern income tax is typically accepted as 1799, at the suggestion of Henry Beeke, the future Dean of Bristol. This income tax was introduced into Great Britain by Prime Minister William Pitt the Younger in his budget of December 1798, to pay for weapons and equipment for the French Revolutionary War. Pitt's new graduated (progressive) income tax began at a levy of 2 old
Unrelated Business Income Tax were not subject to income tax on their revenue from any source as long as the revenue was used towards the organization's tax-exempt purpose. In 1950, Congress amended the tax law to introduce the concept of unrelated business income. Congress enacted the law because it was concerned about nonprofit organizations having an unfair advantage competing in the same activities as for-profit organizations. From that point on, revenue would be considered tax-exempt based on the source of the funds, rather than the use of the funds. Unrelated Business Income Tax Unrelated Business Income Tax (UBIT) in the U.S. Internal Revenue Code