§5256. Period for computation of taxable income 1. General. For purposes of the tax imposed by this Part, a taxpayer’s taxable year is the same as the taxpayer’s taxable year for federal income tax purposes. [PL 1995, c. 281, §32 (AMD); PL 1995, c. 281, §43 (AFF).] 2. Change of taxable year. If a […]
§5257. Methods of accounting 1. Same as federal. For purposes of the tax imposed by this Part, a taxpayer’s method of accounting shall be the same as his method of accounting for federal income tax purposes. If no method of accounting has been regularly used by the taxpayer, taxable income for purposes of this Part […]
§5258. Adjustments In computing a taxpayer’s taxable income for any taxable year under a method of accounting different from the method under which the taxpayer’s taxable income for the previous year was computed, there shall be taken into account those adjustments which are determined, under regulations prescribed by the assessor, to be necessary solely by […]
§5259. Limitation on additional tax 1. Change other than to installment method. If a taxpayer’s method of accounting is changed, other than from an accrual to an installment method, any additional tax which results from adjustments determined to be necessary solely by reason of the change shall not be greater than if such adjustments were […]
