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tax year

   Also found in: Dictionary/thesaurus, Acronyms, Encyclopedia, Wikipedia 0.02 sec.
Tax Year
The year during which one's taxable income is considered. That is, the tax year is any 12-month period during which a government calculates one's tax liability. Normally, this is simply the calendar year, but it may also be a fiscal year.

tax year
The 12-month period for which tax is calculated. For most individual taxpayers, the tax year is synonymous with the calendar year.

tax year
The accounting year selected by a taxpayer for purposes of determining annual taxable income. A new company may select any tax year it desires—July 23 through July 22, for example—and need not use the standard individual tax year of January 1 through December 31.
Tax Year
The calendar year or fiscal year for which the taxable income is computed.


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168(k)(4) election for its first tax year ending after March 31, 2008, it may elect to not apply Sec.
In this case, no new deposits would be allowed, even though the ceiling has been raised during the tax year in question.
The option is available for an eligible small business (ESB) that has no more than an average of $15 million in gross receipts over a three-year period ending with the tax year of the NOL.
 
 
 
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