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YEAR. The period in which the revolution of the earth round the sun, and the accompanying changes in the order of nature, are completed.
     2. The civil year differs from the astronomical, the latter being composed of 365 days, 5 hours, 48 seconds and a fraction, while the former consists, sometimes of three hundred and sixty-five days, and at others, in leap years, of three hundred and sixty-six days.
     3. The year is divided into half-year which consists, according to Co. Litt. 135 b, of 182 days; and quarter of a year, which consists of 91 days, Ibid. and 2 Roll. Ab. 521, 1. 40. It is further divided into twelve months.
     4. The civil year commences immediately after twelve o'clock at night of the thirty-first day of December, that is the first moment of the first day of January, and ends at midnight of the thirty-first day of December, twelve mouths thereafter. Vide Com. Dig. Ann.; 2 Bl. Com. by Chitty, 140, n.; Chitt. Pr. Index tit. Time alteration of the calendar (q.v.) from old to new style in England, (see Bissextile,) and the colonies of that country in America, the year in chronological reckoning was supposed to commence with the first day of January, although the legal year did not commence until March 25th, the intermediate time being doubly indicated: thus February 15, 1724, and so on. This mode of reckoning was altered by the statute 24 Geo. II. cap. 23, which gave rise to an act of assembly of Pennsylvania, passed March 11, 1752; 1 Sm. Laws, 217, conforming thereto, and also to the repeal of the act of 1710.
     5. In New York it is enacted that whenever the term "year" or "years" is or shall be used in any statute, deed, verbal or written contract, or any public or private instrument whatever, the year intended shall be taken to consist of three hundred and sixty-five days; half a year of a hundred and eighty-two days; and a quarter of a year of ninety-two days; and the day of a leap year, and the day immediately preceding, if they shall occur in any period so to be computed, shall be reckoned together as one day. Rev. Stat. part 1, c. 19, t. 1, Sec. 3.

References in periodicals archive ?
Due mainly to an increase in sales of Zest, mini-vehicle sales exceeded the total from the previous year for the first time in the last two years since calendar year 2004.
Specifically, for the year 2000, the allocated rent ($100,000) does not exceed the rent allocated as of the close of 2001 ($100,000); for 2001, the cumulative allocated rent ($200,000) does not exceed the cumulative rent paid as of the close the succeeding calendar year ($200,000); likewise, the cumulative allocated rent through 2003 ($300,000) does not exceed the cumulative rent paid as of the close of 2004 ($400,000).
ii) The institution's total assets combined with those of any parent corporation were $10 million or less on the preceding December 31, and the institution originated fewer than 100 home purchase loans (including refinancings of home purchase loans) in the preceding calendar year.
A plan may be amended to allow (for the first time only) accelerated payments to a participant, provided the payment is less than $10,000; accompanies the termination of the participant's entire interest in the plan; and is made on or before the later of December 31 of the calendar year the plan participant separates from service or 2 1/2 months after the actual separation date.
4) By August 5, 1989, the interest due on a corporation's income tax deficiency for calendar year 1982 would already have exceeded the amount of the tax deficiency; interest on a 1981 deficiency would have exceeded 100 percent even more quickly -- by December 6, 1987.
Under this test, an individual is deemed a resident on the first day during the calendar year on which he or she is present in the United States.
It provides that a taxpayer may terminate a previously made election out at any time, by attaching a termination statement to his or her gift tax return, filed by the due date of the return for the calendar year in which is made the first transfer to which the election out is not to apply.
Production in Japan for the first half of calendar year 2014 experienced a year-on-year increase for the first time in two years (since the first six months of 2012).
Thus, a transferor may elect out of the automatic allocation rules for transfers subject to an ETIP at any time before the due date of the Federal gift tax return for the calendar year in which the ETIP closes.
The Internal Revenue Service issued Notice 95-18 (1995-18 IRB-1), which says if cash remuneration paid to a household employee is $1,000 or more in a calendar year, all of the cash paid (including the first $1,000) to that employee is subject to FICA taxes.