Definition of Deferred Tax Liability

A Deferred Tax Liability is an accounting term on a firm's balance sheet that is used to illustrate when a firm has underpaid on taxes and needs to pay extra.

The firm will have either not paid some taxes, or have paid to little and is therefore required to pay more in tax in a future period.

It is found on the Balance Sheet under Current Liabilities.

Be the first to comment!

You must login to comment

Related Posts

 
 
 

Loading