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The DC Code: § 47-1804.05 Inventories.

Index47 Taxation, Licensing, Permits, Assessments, and Fees. (Refs & Annos)

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.

Historical and Statutory

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. DC CODE § 47-1804.05 Current through December 11, 2012

Credits

(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.)