Idaho Admin. Code r. 35.01.01.025 - TAXABLE YEAR AND ACCOUNTING PERIOD
Section 63-3010, Idaho Code
01.
In General . A taxpayer will
file his Idaho return for the same taxable year as filed for federal income tax
purposes. If a federal return is not filed, the taxable year will be the
taxable year required by the Internal Revenue Code, any other period that may
be required by law, or the calendar year. Taxable year generally corresponds to
the taxpayer's annual accounting period unless a short-period return is
required. (4-6-23)
02.
Change
of Accounting Period. (4-6-23)
a. If a
taxpayer changes his accounting period for federal income tax purposes, he will
make the same change for the same period for Idaho income tax purposes. If
prior approval of the Commissioner of the Internal Revenue Service is required,
a copy of that approval will accompany the Idaho short-period return.
(4-6-23)
b. If a change does not
require prior approval of the Commissioner of the Internal Revenue Service, the
change will be noted on the Idaho short-period return, along with a statement
that no prior approval was required and the authority cited.
(4-6-23)
Notes
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