Sec. 16-2.18. Definition of taxable year

Tax Law, § 1450(b)

The term taxable year means the taxpayer's taxable year for Federal income tax purposes, or the part thereof during which the taxpayer is subject to the tax imposed by article 32 of the Tax Law. In the case of a return made for a fractional part of a year, taxable year means the period for which such return is made. A taxable year must be a calendar year or fiscal year ending during the calendar year. A taxable year shall not include more than 12 months except in the case of a 52-53 week period. (See Subpart 17-1 of this Title - Accounting Periods.)