Regarding taxation years, which of the following statements is TRUE? A)Corporate taxpayers must use the calendar year as their taxation year. B)The taxation year for an individual taxpayer typically ends on April 30^th. C)Individual taxpayers may choose any twelve-month period as their taxation year. D)A corporation may have a taxation year less than twelve months during a year the corporation is formed, dissolved, or is granted a change in its year-end.

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A corporation may have a taxation year less than twelve months during a year the corporation is formed, dissolved, or is granted a change in its year-end. While individual taxpayers typically use the calendar year (ending December 31) as their taxation year, they may choose any twelve-month period as their taxation year. Therefore, options A and B are both false, and option C is partially true but not the best choice as it does not include the exception for corporations.

Regarding Taxation Years, Which of the Following Statements Is TRUE