Coeur d’Alene Business Calendar Tax Year Vs. Fiscal Tax Year

A tax year is an annual accounting period that an Idaho taxpayer uses to determine their tax liability. A calendar year is January 1^st through December 31^st. Individuals, including an Idaho sole proprietorship, always use the calendar year.

A fiscal year is a tax year that starts and ends in another month, except December. You can opt to use a fiscal year if you can prove to the IRS that your natural Idaho business cycle conflicts with the calendar year.

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