P.R. Laws tit. 13, § 30536

2019-02-20 00:00:00+00

§ 30536. Taxable year of corporations and their regular and special members

(a) Special corporation. — A special employee-owned corporation may adopt any taxable year regardless of the taxable year of its regular and special members. It may also change its taxable year, pursuant to the provisions of § 30180 of this title and any other rules established by the Secretary.

(b) Regular and special members. — A regular or special member may adopt any taxable year regardless of the taxable year of the special employee-owned corporation and may change his/her taxable year pursuant to the provisions of § 30180 of this title and any other rules established by the Secretary.

History —Jan. 31, 2011, No. 1, § 1113.06, retroactive to Jan. 1, 2011.