Legal Definitions - fiscal year

A fiscal year is a period of 12 consecutive months used for accounting and financial purposes. It is often different from the calendar year, especially for tax purposes.

• The company's fiscal year is from October 1 to September 30.
• The government's tax year can be either the calendar year or a fiscal year of 12 months ending on the last day of a month other than December.

These examples illustrate how a fiscal year can be different from the calendar year and how it is used for financial and tax purposes.