Louisiana Revised Statutes 47:96 – Change of accounting period
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Terms Used In Louisiana Revised Statutes 47:96
- Fiscal year: means an accounting period of twelve months ending on the last day of any month other than December. See Louisiana Revised Statutes 47:98
- 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.
If a taxpayer changes his accounting period from fiscal year to calendar year, from calendar year to fiscal year, or from one fiscal year to another, the net income shall, with the approval of the collector, be computed on the basis of such new accounting period, subject to the provision of La. Rev. Stat. 47:97.