Applicant Eligibility: Nonprofit corporations or trusts organized to construct homes for members of the corporation or beneficiaries of the trust; and qualified sponsors who intend to sell the project to a nonprofit corporation or trust. Legal Authority: Section 213 of the National Housing Act (12 U.S.C. 1715e).
The tax years you can use are: 1  Calendar year - 12 consecutive months beginning January 1 and ending December 31. 2  Fiscal year - 12 consecutive months ending on the last day of any month except December. A 52-53-week tax year is a fiscal tax year that varies from 52 to 53 weeks but does not have to end on the last day of a month.
Fiscal Vs. In the United States, the calendar year is the Gregorian calendar, which is based on the solar calendar and goes from Jan. 1 to Dec. 31. Dozens of calendar systems are used in the world, such as the Islamic lunar calendar, the Indian calendar and the Chinese calendar.or business purposes, the calendar year is fixed: It starts and ends on the same day for everyone. Fiscal years, on the other hand, may start on the first day of any month of the year -- except January -- depending on the 12-month period chosen by the organization or company.