§ 47-1804.05. Inventories.

Current through October 23, 2012

Whenever in the opinion of the Mayor the use of inventories is necessary in order to properly determine the income of any taxpayer, inventories shall be taken by such taxpayer upon such basis as the Mayor may prescribe as conforming as nearly as may be to the best accounting practice in the trade or business and as most clearly reflecting the income.

                
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(July 16, 1947, 61 Stat. 340, ch. 258, art. I, title IV, § 5; Mar. 6, 1979, D.C. Law 2-158, § 4, 25 DCR 7002; enacted, Apr. 9, 1997, D.C. Law 11-254, § 2, 44 DCR 1575.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 47-1804.5.

1973 Ed., § 47-1561d.

Legislative History of Laws

For legislative history of D.C. Law 2-158, see Historical and Statutory Notes following § 471801.04.