New Jersey Statutes 54:8A-29. Taxable year; annual accounting period; calendar year; fiscal year; definitions
Terms Used In New Jersey Statutes 54:8A-29
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- month: means a calendar month, and the word "year" means a calendar year. See New Jersey Statutes 1:1-2
(1) the taxpayer’s annual accounting period, if it is a calendar year or a fiscal year;
(2) the calendar year,
(A) if the taxpayer keeps no books, or
(B) the taxpayer does not have an annual accounting period, or,
(C) the taxpayer has an annual accounting period, but such period does not qualify as a fiscal year; or
(3) the period for which the return is made, if the return is made for a period of less than 12 months.
(b) The term “annual accounting period” means the annual period on the basis of which the taxpayer regularly computes his income in keeping his books.
(c) The term “calendar year” means a period of 12 months ending on December 31.
(d) The term “fiscal year” means a period of 12 months ending on the last day of any month other than December.
L.1961, c. 32, p. 140, s. 29, eff. May 29, 1961. Amended by L.1961, c. 129, p. 771, s. 17.