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APPLICATION FOR NCAA DIVISION III
EXPLORATORY YEAR
Must be received in the NCAA national office not later than January 15.
This application is to be used only for prospective new members joining the
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What is exploratory year?
An exploratory year refers to a specific period in which a taxpayer can conduct an exploratory activity, usually related to resource exploration, before they begin developing a project or claiming expenses.
Who is required to file exploratory year?
Taxpayers who engage in exploratory activities related to natural resources, such as mining or oil and gas extraction, are required to file an exploratory year.
How to fill out exploratory year?
To fill out an exploratory year, taxpayers must complete the necessary forms provided by the tax authority, detailing their exploratory activities, related expenses, and any income earned during the exploratory period.
What is the purpose of exploratory year?
The purpose of an exploratory year is to allow taxpayers to identify potential resources and assess the financial viability of exploring and developing these resources with potential tax benefits.
What information must be reported on exploratory year?
Taxpayers must report information including the type of exploratory activities conducted, associated costs, dates of activities, and any resultant income.
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