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.
(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.)
1981 Ed., § 47-1804.5.
1973 Ed., § 47-1561d.
Structure District of Columbia Code
Title 47 - Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]
Chapter 18 - Income and Franchise Taxes
Subchapter IV - Accounting Periods, Installment Sales, and Inventories
§ 47–1804.01. Accounting periods — Computation of income
§ 47–1804.02. Accounting periods — Period in which items of gross income included
§ 47–1804.03. Accounting periods — Period for which deductions and credits taken
§ 47–1804.04. Income from installment sales