Series 22: 2.1.1.2. Tax Year

Taken from our Series 22 Top-off Online Guide

2.1.1.2. Tax Year

Any business entity may choose to be taxed by the calendar year or a fiscal year. A fiscal year is any 12-month period that ends on the last day of any calendar month except December. A tax year election is made on its tax form the first year it files. It may only be changed by separate application to the IRS.

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