43-901. Accounting period and method
Taxable income shall be computed upon the basis of the taxpayer's annual accounting
period, fiscal year or calendar year as the case may be in accordance with the method of
accounting regularly employed in keeping the books of such taxpayer. If no such method
of accounting has been so employed or if the method employed does not reflect the proper
income, the computation shall be made in accordance with such method as in the opinion of
the department does reflect the proper income. If the taxpayer's annual accounting
period is other than a fiscal year or if the taxpayer has no annual accounting period or
does not keep books, the taxable income shall be computed on the basis of the calendar
year.
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