Sec. 1-2.9. Definition of fiscal year

Tax Law, § 208(10)

The term fiscal year means any period not longer than 12 calendar months, or any shorter period beginning on the date the taxpayer becomes subject to tax imposed by article 9-A of the Tax Law, ending on the last day of any month other than December, provided the taxpayer keeps its books on such basis (see section 2-1.3 of this Title—Fiscal-year taxpayers). It also includes the 52-53 week accounting period if such period has been elected by the taxpayer. (See section 2-1.4 of this Title—Taxpayers using a 52-53 week year.)