54:8A-70. "Taxable year" ; "annual accounting period" and "calendar year" defined
(a) The term "taxable year" means:
(1) The taxpayer's or claimant'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.1970, c. 222, s. 13, approved June 17, 1971. Amended by L.1974, c. 185, s. 2, eff. Dec. 24, 1974; expired December 31, 1980 pursuant to L.1971,c.222,s.62.
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Last modified: October 11, 2016