United States Fiscal year

1 united states

1.1 federal government
1.2 state governments
1.3 businesses , organizations

united states
federal government

the united states federal government s fiscal year 12-month period ending on 30 september of year, having begun on 1 october of previous calendar year. in particular, identification of fiscal year calendar year in ends; thus, current fiscal year 2018, written fy2018 or fy18 , began on 1 october 2017 , end on 30 september 2018.

prior 1976, fiscal year began on 1 july , ended on 30 june. congressional budget , impoundment control act of 1974 made change allow congress more time arrive @ budget each year, , provided known transitional quarter 1 july 1976 30 september 1976. earlier shift in federal government s fiscal year made in 1843, shifting fiscal year calendar year 1 starting on 1 july.

for example, united states government fiscal year 2018 is:

1st quarter: 1 october 2017 – 31 december 2017
2nd quarter: 1 january 2018 – 31 march 2018
3rd quarter: 1 april 2018 – 30 june 2018
4th quarter: 1 july 2018 – 30 september 2018

state governments

state governments set own fiscal year. may or may not align federal calendar. example, in state of california, fiscal year runs 1 july 30 june each year.

businesses , organizations

the tax year business governed fiscal year chooses. business may choose consistent fiscal year wants; however, seasonal businesses such farming , retail, account practice end fiscal year shortly after highest revenue time of year. consequently, large agriculture companies end fiscal years after harvest season, , retailers end fiscal years shortly after christmas shopping season.