Definition of Deferred Tax Liability
- Posted on November 19, 2019
- Financial Terms
- By admin admin
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.
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