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Meaning of “tax year” in the English Dictionary

"tax year" in Business English

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tax yearnoun [C]

uk   us   TAX, FINANCE, ACCOUNTING
any twelve-month ​period at the end of which ​tax is ​calculated on ​income during that ​period. The ​taxyear can ​start in different months, depending on the country or ​organization: The ​figures for the ​taxyear 2009/2010 are given in the ​table below. If the non-US ​shareholder was a nonresident ​alien who was physically ​present in the US during the ​taxyear for more than 182 days, the ​distributions would be ​subject to a 30% ​tax. According to ​companyrecords from the ​taxyearending September 2011, he is one of the ​highestpaidCEOs in the ​state.
(Definition of tax year from the Cambridge Business English Dictionary © Cambridge University Press)
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