### Question
How does TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS define specified payment?


### Answer
Under *26 U.S.C. § 512*, **specified payment** is defined as:

> any interest, annuity, royalty, or rent

#### Citation:
  - *26 U.S.C. § 512*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter F-Exempt Organizations > PART III-TAXATION OF BUSINESS INCOME OF CERTAIN EXEMPT ORGANIZATIONS**

