Iowa Admin. Code r. 701-502.14
Current through Register Vol. 47, No. 5, September 4, 2024
The return shall be computed on the same basis and for the same accounting period as the taxpayer's return for federal corporation income tax purposes. Permission to change accounting methods or accounting periods for corporation tax purposes is not required provided the taxpayer furnishes the department with a copy of the federal consent.
This rule is intended to implement Iowa Code section 422.35.
Iowa Admin. Code r. 701-502.14