Definition of Deferred income tax (liability)

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TeachMeFinance.com - explain Deferred income tax (liability)



Deferred income tax (liability)

A liability in the balance sheet representing the additional Federal income taxes that would have been due if a utility had not been allowed to compute tax expenses differently for income tax reporting purposes than for ratemaking purposes.



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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