N.Y. Comp. Codes R. & Regs. tit. 20, § 17-1.2 – Calendar year taxpayers. | Midpage
§ 17-1.2
N.Y. Comp. Codes R. & Regs. tit. 20, § 17-1.2
Calendar year taxpayers.
Department of Taxation and Finance
(a) A taxpayer which reports on the basis of a calendar year for Federal income tax purposes must report on the same basis for purposes of article 32 of the Tax Law. A calendar year is a period of 12 calendar months ending on December 31st, or a period of less than 12 calendar months beginning on the date a taxpayer becomes subject to tax and ending on December 31st. A calendar year also includes, in the case of a taxpayer which changes the period on the basis of which it keeps its books from a fiscal year to a calendar year, the period from the close of its last fiscal year to and including the following December 31st.
(b) A taxpayer shall use a calendar year as its accounting period and report on a calendar-year basis in the following situations:
(1) the taxpayer keeps its books on the basis of a calendar year;
(2) the taxpayer keeps its books on the basis of any period ending on any day other than the last day of a calendar month, except in the case of a taxpayer which keeps its books on the basis of a 52-53-week accounting period;
(3) the taxpayer does not keep books; or
(4) the taxpayer is not required to file a Federal income tax return, unless the use of a fiscal year or a 52-53-week period basis of reporting has been authorized by the Tax Commission.