Terms Used In South Carolina Code 58-15-940

  • 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.
The fiscal year for which reports shall be made by railroad companies in the State to the Office of Regulatory Staff and to other officers of the State shall terminate on the thirty-first day of December, so as to conform to the calendar year and to the fiscal year as fixed by the Interstate Commerce Commission of the United States.