S Corporation tax year definitionQuestion What are the options for tax year status for Sub-chapter S Corporations?
Answer For most S Corporations, there is one tax year option: calendar. Under the calendar year, you use a 12-month period beginning January 1 and ending December 31.
It is complicated for an S corporation to use a fiscal year (a year ending on the last day of any month other than December). 
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Author of J.K. Lasser's Small Business Taxes 2007
Related Categories: Accounting, Finance, Taxes, Management
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