Section 17-663-72 - Annualizing self-employment income(a) Households subject to simplified reporting who derive their self-employment income monthly from a farming operation and who incur irregular expenses to produce such income shall be given the option to annualize the self-employment farm income and expenses over a twelve-month period.(b) Self-employment income which represents the household's annual income and which is received less often than monthly will be annualized over a twelve -month period even if the income is received within only a short period of time during that twelve months. (1) Self-employment income will be annualized even if the household receives income from other sources in addition to self-employment.(2) If there has been a substantial increase or decrease in business so that the averaged amount does not accurately reflect the household's actual monthly circumstances, the self-employment income will be anticipated.(c) Self-employment income that is intended to meet the household's needs for only part of the year will be averaged over the length of time the income is intended to cover, rather than a twelve-month period.d) If a self-employment enterprise has been in existence for less than one year: (1) The income from the self-employment will be averaged over the period of time the business has been in existence, and the monthly amount projected for the coming year; or(2) If the business has been in operation for such a short time that there is insufficient information to make a reasonable projection, the household may be certified for less than one year until the business has been operating long enough to base a longer projection.[Eff 3/19/93; am 8/19/96; comp 11/19/05; am and comp OCT 07 2010] (Auth: HRS § 346-14) (Imp: C.F.R. §273.11(a)(1), (2))