West Virginia Code 11-13-9 – Tax year
(a) Taxable year. — For purposes of the tax imposed by this article, a taxpayer's taxable year shall be the same as the taxpayer's taxable year for federal income tax purposes.
Terms Used In West Virginia Code 11-13-9
- Commissioner: means the State Tax Commissioner. See West Virginia Code 11-22-1
- Taxable year: means the calendar year, or the fiscal year ending during the calendar year, upon the basis of which tax liability is computed under this article. See West Virginia Code 11-13-1
(b) Method of accounting. — A taxpayer's method of accounting under this article shall be the same as the taxpayer's method of accounting for federal income tax purposes. In the absence of any method of accounting for federal income tax purposes, the tax under this article shall be computed under such method that in the opinion of the Tax Commissioner clearly reflects such income.
(c) Adjustments. — In computing a taxpayer's liability for tax for any taxable year under a method of accounting different from the method under which the taxpayer's liability for tax under this article for the previous year was computed, there shall be taken into account those adjustments which are determined, under regulations prescribed by the Tax Commissioner, to be necessary solely by reason of the change in order to prevent amounts from being duplicated or omitted.