New Mexico Statutes 7-2-21. Fiscal years permitted
Current as of: 2023 | Check for updates
|
Other versions
Any individual who files income tax returns under the Internal Revenue Code on the basis of a fiscal year shall report income under the Income Tax Act on the same basis.
Terms Used In New Mexico Statutes 7-2-21
- 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.