I:11-37 Allowable Taxable Year. For each of the following cases, indicate whether the taxpayer has selected an allowable tax year in an initial year. If the year selected is not acceptable, indicate what an acceptable year would be.

a. A corporation selects a January 15 year-end.

b. A corporation selects a March 31 year-end.

c. A corporation selects a year that ends on the last Friday in March.

d. A partnership selects a year that ends on December 31 and has three equal partners whose years end on March 31, April 30, and June 30.

e. An S corporation selects a December 31 year-end.