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A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day that is closest to a particular date (for example, the Friday closest to 31 December). Under such a system, some fiscal years have 52 weeks and others 53 weeks. The calendar year is used as the fiscal year by about 65% of publicly-traded companies in the United States and for most large corporations in the United Kingdom. That is the case in many countries around the world with a few exceptions such as Australia, New Zealand, and Japan. Many universities have a fiscal year which ends during the summer to align the fiscal year with the academic year (and, in some cases involving public universities, with the state government's fiscal year) and also because the university is normally less busy during the summer months. In the Northern Hemisphere, that is July to the next June. In the Southern Hemisphere, that is the calendar year, January to December. Some media/communication-based organizations use a broadcast calendar as the basis for their fiscal year.


Chart of various fiscal years


Tax year

The fiscal year for individuals and entities to report and pay income taxes is often known as the taxpayer's tax year or taxable year. Taxpayers in many jurisdictions may choose their tax year. Some federal countries, such as Canada and Switzerland, require the provincial or cantonal tax year to align with the federal year. In the United States, most states retained a 30 June fiscal year-end date when the federal government switched to 30 September in 1976. Nearly all jurisdictions require that the tax year be 12 months or 52/53 weeks. However, short years are permitted as the first year or when changing tax years. Most countries require all individuals to pay income tax based on the calendar year. Significant exceptions include: * Australia: individuals pay income tax based on the financial year of 1 July until 30 June. *United Kingdom: the tax year for individuals begins on 6 April. This is due to Britain historically having a calendar year starting on Lady Day (25 March) in the
Julian calendar The Julian calendar, proposed by Roman consul Julius Caesar in 46 BC, was a reform of the Roman calendar. It took effect on , by edict. It was designed with the aid of Greek mathematicians and astronomers such as Sosigenes of Alexandri ...
but a fiscal year ending on that day. When the UK adopted the Gregorian calendar in 1752, 25 March translated to 5 April and 26 March to 6 April. (See History of taxation in the United Kingdom#Why the United Kingdom income tax year begins on 6 April for more detailed explanation.) *United States: individuals may (but rarely do) elect any tax year, subject to IRS approval. Many jurisdictions require that the tax year conform to the taxpayer's fiscal year for financial reporting. The United States is a notable exception: taxpayers may choose any tax year, but must keep books and records for such year.


Operation in various countries/region

In some jurisdictions, particularly those that permit
tax consolidation Tax consolidation, or combined reporting, is a regime adopted in the tax or revenue legislation of a number of countries which treats a group of wholly owned or majority-owned companies and other entities (such as trusts and partnerships) as a sin ...
, companies that are part of a group of businesses must use nearly the same fiscal year (differences of up to three months are permitted in some jurisdictions, such as the U.S. and Japan), with consolidating entries to adjust for transactions between units with different fiscal years, so the same resources will not be counted more than once or not at all.


Afghanistan

In
Afghanistan Afghanistan, officially the Islamic Emirate of Afghanistan,; prs, امارت اسلامی افغانستان is a landlocked country located at the crossroads of Central Asia and South Asia. Referred to as the Heart of Asia, it is borde ...
, the fiscal year was changed from 21st or 22 March – 20th or 21 March (1 Hamal – 29/30 Hoot) to 21 – 20 December (1 Jadi – 30 Qaws) in 2011. The fiscal year runs with the Afghan or Solar Hijri calendar, because of the differing cycle of leap years in the Gregorian and Afghan calendars, there can be slight differences in the start date of fiscal (and calendar) years. As shown in the chart below, leap years will coincide in 2020 and 2024 but will desynchronize with the Gregorian calendar having a leap year in 2028 as opposed to the Afghan calendar's leap year of 2029. Correspondence of Solar Hijri and Gregorian calendars (Solar Hijri leap years are marked *)


Australia

In
Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...
, a fiscal year is commonly called a "financial year" (FY) and starts on 1 July and ends on the next 30 June. Financial years are designated by the calendar year of the second half of the period. For example, financial year is the 12-month period ending on 30 June and can be referred to as FY/. It is used for official purposes, by individual taxpayers and by the overwhelming majority of business enterprises. Business enterprises may opt to use a financial year that ends at the end of a week (e.g., 52 or 53 weeks in length, and therefore is not exactly one calendar year in length), or opt for its financial year to end on a date that matches the reporting cycle of its foreign parent. All entities within the one group must use the same financial year. For government accounting and budget purposes, pre- Federation colonies changed the financial year from the calendar year to a year ending 30 June on the following dates: Victoria changed in 1870, South Australia in 1874, Queensland in 1875, Western Australia in 1892, New South Wales in 1895 and Tasmania in 1904. The Commonwealth adopted the near-ubiquitous financial year standard since its inception in 1901. The reason given for the change was for convenience, as Parliament typically sits during May and June, while it was difficult for it to meet in November and December to pass a budget. The Financial year is split into the following four-quarters


Austria

In
Austria Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ...
, the fiscal year is the calendar year, 1 January to 31 December.


Bangladesh

In
Bangladesh Bangladesh (}, ), officially the People's Republic of Bangladesh, is a country in South Asia. It is the eighth-most populous country in the world, with a population exceeding 165 million people in an area of . Bangladesh is among the mo ...
, the fiscal year is 1 July to the next 30 June.


Belarus

In
Belarus Belarus,, , ; alternatively and formerly known as Byelorussia (from Russian ). officially the Republic of Belarus,; rus, Республика Беларусь, Respublika Belarus. is a landlocked country in Eastern Europe. It is bordered by ...
, the fiscal year is the calendar year, 1 January to 31 December.


Brazil

In Brazil, the fiscal year is the calendar year, 1 January to 31 December.


Bulgaria

In
Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedo ...
, the fiscal year is the calendar year, 1 January to 31 December, both for personal income tax and for corporate taxes.


Canada

In
Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...
, the government's financial year is 1 April to 31 March.
(Q1 1 April - 30 June, Q2 1 July - 30 Sept, Q3 1 Oct - 31 Dec and Q4 1 Jan - 31 Mar) For individual taxpayers, the fiscal year is the calendar year, 1 January to 31 December.


China

In
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
, the fiscal year for all entities is the calendar year, 1 January to 31 December, and applies to the tax year, statutory year, and planning year.


Colombia

In Colombia, the fiscal year is the calendar year, 1 January to 31 December.


Costa Rica

In Costa Rica, the fiscal year is 1 October to 30 September.


Egypt

In
Egypt Egypt ( ar, مصر , ), officially the Arab Republic of Egypt, is a List of transcontinental countries, transcontinental country spanning the North Africa, northeast corner of Africa and Western Asia, southwest corner of Asia via a land bridg ...
, the fiscal year is 1 July to 30 June.


France

In
France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...
, the fiscal year is the calendar year, 1 January to 31 December, and has been since at least 1911.


Germany

In Germany, the fiscal year runs from 1st January until 31st December.


Greece

In
Greece Greece,, or , romanized: ', officially the Hellenic Republic, is a country in Southeast Europe. It is situated on the southern tip of the Balkans, and is located at the crossroads of Europe, Asia, and Africa. Greece shares land borders wi ...
, the fiscal year is the calendar year, 1 January to 31 December.


Hong Kong

In
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
, the government's financial year runs from 1 April to 31 March. However, a company incorporated in Hong Kong can determine its own financial year-end, which may be different from the government fiscal year.


India

In
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
, the government's financial year runs from 1 April to 31 March the following year. The financial year from 1 April 2020 to 31 March 2021 would generally be abbreviated as FY 2020-21, but it may also be called FY 2021 on the basis of the ending year. Companies following the Indian Depositary Receipt (IDR) are given freedom to choose their financial year. For example, Standard Chartered's IDR follows the UK calendar despite being listed in India. Companies following Indian fiscal year get to know their economic health on 31 March of every Indian financial or fiscal year. The current fiscal year was adopted by the colonial British government in 1867 to align India's financial year with that of the British Empire. Prior to 1867, India followed a fiscal year that ran from 1 May to 30 April. In 1984, the LK Jha committee recommended adopting a fiscal year that ran from 1 January to 31 December. However, this proposal was not adopted by the government fearing possible issues during the transition period. A panel set up by the NITI Aayog in July 2016, recommended starting the next fiscal year from 1 January to 31 December after the end of the current five-year plan. On 4 May 2017,
Madhya Pradesh Madhya Pradesh (, ; meaning 'central province') is a state in central India. Its capital is Bhopal, and the largest city is Indore, with Jabalpur, Ujjain, Gwalior, Sagar, and Rewa being the other major cities. Madhya Pradesh is the second ...
announced that it would move to a January–December financial year, becoming the first Indian state to do so. But later it dropped the idea.


Indonesia

In
Indonesia Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Gui ...
, the fiscal year is the calendar year, 1 January to 31 December.


Iran

In
Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...
, the fiscal year usually starts on 21st or 22 March (1st of Farvardin in the Solar Hijri calendar) and concludes on next year's 20th or 21 March (29th or 30th of
Esfand Esfand ( fa, اسفند, ) is the twelfth and final month of the Solar Hijri calendar, the official calendar of Iran and Afghanistan. Esfand has twenty-nine days normally, and thirty during leap years. It begins in February and ends in March of ...
in the Solar Hijri calendar).


Ireland

In
Ireland Ireland ( ; ga, Éire ; Ulster-Scots: ) is an island in the North Atlantic Ocean, in north-western Europe. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the s ...
, the fiscal year is the calendar year, 1 January to 31 December. Until 2001, it was the year ending 5 April, as in the United Kingdom, but was changed with the introduction of the euro. The 2001 tax year was nine months, from April to December.


Israel

In
Israel Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated ...
, the fiscal year is the calendar year, 1 January to 31 December.


Italy

In
Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...
, the fiscal year is the calendar year, 1 January to 31 December. It was changed in 1965, before which it was 1 July to 30 June.


Japan

In
Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the n ...
, the government's financial year is from 1 April to 31 March. Japan's income tax year is 1 January to 31 December, but corporate tax is charged according to the corporation's own annual period.


Lithuania

In Lithuania, the fiscal year is the calendar year, 1 January to 31 December.


Macau

In Macau, the government's financial year is 1 January to 31 December.


Mexico

In
Mexico Mexico (Spanish language, Spanish: México), officially the United Mexican States, is a List of sovereign states, country in the southern portion of North America. It is borders of Mexico, bordered to the north by the United States; to the so ...
, the fiscal year is the calendar year, 1 January to 31 December.


Moldova

In
Moldova Moldova ( , ; ), officially the Republic of Moldova ( ro, Republica Moldova), is a landlocked country in Eastern Europe. It is bordered by Romania to the west and Ukraine to the north, east, and south. The unrecognised state of Transnistri ...
, the fiscal year is the calendar year, 1 January to 31 December.


Myanmar/Burma

In
Myanmar Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John Wells explai ...
, the fiscal year is 1 October to 30 September.


Nepal

In Nepal, the fiscal year is July 16 (1 Shrawan in Bikram calendar) to July 15 (31 Ashad in Bikram calendar).


New Zealand

In
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island coun ...
, the government's fiscal and financial reporting year is 1 July to the next 30 June and applies also to the budget. The company and personal financial year is 1 April to 31 March and applies to company and personal income tax.


Pakistan

In
Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
, the government's fiscal year is 1 July of the previous calendar year and concludes on 30 June. Private companies are free to observe their own accounting year, which may not be the same as government's fiscal year.


Philippines

In the
Philippines The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...
, the government's fiscal year is the calendar year, from 1 January to 31 December. The accounting period for the private sector must follow a 12-month fiscal period which can or can not be synchronized with the calendar year. Most Philippine companies end their fiscal years in December or March.


Poland

In
Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populou ...
, the fiscal year is the calendar year, from 1 January to 31 December.


Portugal

In
Portugal Portugal, officially the Portuguese Republic ( pt, República Portuguesa, links=yes ), is a country whose mainland is located on the Iberian Peninsula of Southwestern Europe, and whose territory also includes the Atlantic archipelagos of th ...
, the fiscal year is the calendar year, 1 January to 31 December.


Qatar

In Qatar, the fiscal year is from 1 January to 31 December.


Romania

In
Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...
, the fiscal year is the calendar year, 1 January to 31 December.


Russia

In
Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-ei ...
, the fiscal year is the calendar year, 1 January to 31 December.


Singapore

In Singapore, the fiscal year for the calculation of personal income taxes is 1 January to 31 December. The fiscal year for the Government of Singapore and many government-linked corporations is 1 April to 31 March. Corporations and organisations are permitted to select any date as the end of each fiscal year, as long as this date remains constant. However, new companies should consciously choose their financial year end to stretch as much as a duration of 12 months as possible.


South Africa

In
South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring coun ...
, the financial year for the Government of South Africa is 1 April to 31 March. The year of assessment for individuals covers twelve months, 1 March to the final day of February the following year. The Act also provides for certain classes of taxpayers to have a year of assessment ending on a day other than the last day of February. Companies are permitted to have a tax year ending on a date that coincides with their financial year. Many older companies still use a tax year that runs from 1 July to 30 June, inherited from the British system. A common practice for newer companies is to run their tax year from 1 March to the final day of February following, to synchronize with the tax year for individuals.


South Korea

In
South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...
, the fiscal year is the calendar year, 1 January to 31 December.


Spain

In
Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = '' Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , ...
, the fiscal year is the calendar year, 1 January to 31 December.


Sweden

In
Sweden Sweden, formally the Kingdom of Sweden,The United Nations Group of Experts on Geographical Names states that the country's formal name is the Kingdom of SwedenUNGEGN World Geographical Names, Sweden./ref> is a Nordic countries, Nordic c ...
, the fiscal year for individuals is the calendar year, 1 January to 31 December. The fiscal year for an organisation is typically one of the following: *1 January to 31 December *1 May to 30 April *1 July to 30 June *1 September to 31 August However, all calendar months are allowed. If an organisation wishes to change into a non-calendar year, permission from the Tax Authority is required.


Switzerland

In
Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
, the fiscal year is the calendar year, 1 January to 31 December.


Taiwan

In
Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the no ...
, the fiscal year is the calendar year, 1 January to 31 December. However, an enterprise may elect to adopt a special fiscal year at the time it is established and can request approval from the tax authorities to change its fiscal year.


Thailand

In
Thailand Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is b ...
, the government's fiscal year (FY) is 1 October to 30 September of the following year. For individual taxpayers it is the calendar year, 1 January to 31 December.


Turkey

In
Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a small portion on the Balkan Peninsula ...
, the fiscal year is the calendar year, 1 January to 31 December.


Ukraine

In
Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian inva ...
, the fiscal year is the calendar year, 1 January to 31 December.


United Arab Emirates

In the
United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (Middle East, The Middle East). It is ...
, the fiscal year is the calendar year, 1 January to 31 December.


United Kingdom

In the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and ...
, the financial year runs from 1 April to 31 March for the purposes of government financial statements. For personal tax purposes the fiscal year starts on 6 April and ends on 5 April of the next calendar year. Although
United Kingdom corporation tax : ''Throughout this article, the term "pound" and the £ symbol refer to the Pound sterling.'' Corporation tax in the United Kingdom is a corporate tax levied in on the profits made by UK-resident companies and on the profits of entities reg ...
is charged by reference to the government's financial year, companies can adopt any year as their accounting year: if there is a change in tax rate, the taxable profit is apportioned to financial years on a time basis. A number of major corporations that were once government-owned, such as BT Group and the National Grid, continue to use the government's financial year, which ends on the last day of March, as they have found no reason to change since privatisation. The 5 April year end for income tax reflects the old civil and ecclesiastical calendar under which New Year began on 25 March ('' Lady Day''). The difference between the two dates is accounted for by the eleven days omitted in September 1752 due to the Calendar (New Style) Act 1750 by which
Great Britain Great Britain is an island in the North Atlantic Ocean off the northwest coast of continental Europe. With an area of , it is the largest of the British Isles, the largest European island and the ninth-largest island in the world. It ...
also converted from the
Julian Calendar The Julian calendar, proposed by Roman consul Julius Caesar in 46 BC, was a reform of the Roman calendar. It took effect on , by edict. It was designed with the aid of Greek mathematicians and astronomers such as Sosigenes of Alexandri ...
to the
Gregorian Calendar The Gregorian calendar is the calendar used in most parts of the world. It was introduced in October 1582 by Pope Gregory XIII as a modification of, and replacement for, the Julian calendar. The principal change was to space leap years d ...
. However, although the calendar year finished on 24 March, the tax year finished a day later, on 25 March, the Quarter Day. For a fuller explanation about the history of the United Kingdom income tax year and its start date, see History of taxation in the United Kingdom#Why the United Kingdom income tax year begins on 6 April.


United States


Federal government

In the
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...
, the federal government's fiscal year is the 12-month period beginning 1 October and ending 30 September the following year. The identification of a fiscal year is the calendar year in which it ends; thus, the current fiscal year is , often written as "FY" or "FY", which began on 1 October and will end on 30 September . Until 1976, the fiscal year began on 1 July and ended on 30 June. The Congressional Budget and Impoundment Control Act of 1974 made the change to allow Congress more time to arrive at a budget each year, and provided for what is known as the "transitional quarter" from 1 July 1976 to 30 September 1976. An earlier shift in the federal government's fiscal year was made in 1843, shifting the fiscal year from a calendar year to one starting on 1 July. For example, the United States government Fiscal Year is: * 1st quarter: 1 October – 31 December * 2nd quarter: 1 January – 31 March * 3rd quarter: 1 April – 30 June * 4th quarter: 1 July – 30 September


State governments

State governments set their own fiscal year. Forty-six of the fifty states set their fiscal year to end on 30 June. Four states have fiscal years that end on a different date: * Alabama, ends 30 September *
Michigan Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and t ...
, ends 30 September * New York, ends 31 March *
Texas Texas (, ; Spanish: ''Texas'', ''Tejas'') is a state in the South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by ...
, ends 31 August The fiscal year for the Washington, D.C., government ends on 30 September. Among the inhabited territories of the United States, most align with the federal fiscal year, ending on 30 September. These include
American Samoa American Samoa ( sm, Amerika Sāmoa, ; also ' or ') is an unincorporated territory of the United States located in the South Pacific Ocean, southeast of the island country of Samoa. Its location is centered on . It is east of the Internatio ...
, Guam, the Northern Mariana Islands and the U.S. Virgin Islands. Puerto Rico is the exception, with its fiscal year ending on 30 June.


Vietnam

In
Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making ...
, the fiscal year is the calendar year, 1 January to 31 December.


Businesses and organizations

The tax year for a business is governed by the fiscal year it chooses. A business may choose any consistent fiscal year that it wants; however, for seasonal businesses such as farming and retail, a good account practice is to end the fiscal year shortly after the highest revenue time of year. Consequently, most large agriculture companies end their fiscal years after the harvest season, and most retailers end their fiscal years shortly after the Christmas shopping season.


See also

* 4–4–5 calendar


References


Further reading

* * {{DEFAULTSORT:Fiscal Year Financial accounting Types of year