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Current as of March 08, 2022 | Updated by FindLaw Staff
In attempting to accurately assess ongoing business operations, income and property, adjustment may be necessary to minimize differences. The overall objective is to achieve comparability in determining appropriate stabilized income and typical property changes from prior years. Occurrences that may prompt such an adjustment:
1. Are extraordinary, unusual and infrequent events.
2. Are material in nature, of a character different from the typical or customary business operations, not expected to recur frequently and not normally considered in evaluating the operating results of a business.
3. May include material increases or decreases in income and property as a result of such events as write-offs, write-downs and changes in accounting methods or practices.
Cite this article: FindLaw.com - Arizona Revised Statutes Title 42. Taxation § 42-14356. Adjustments to achieve comparability - last updated March 08, 2022 | https://codes.findlaw.com/az/title-42-taxation/az-rev-st-sect-42-14356/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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