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Deferred Income Tax
What does it mean?
A liability that results from income already earned, is recognized for accounting but not tax purposes purposes, and is recorded on the balance sheet.
In Other Words...
In other words, the income has been realized, but the tax on that income hasn't.
Related Links
Introduction to Fundamental Analysis - Here's an easy-to-understand tutorial on the techniques of analyzing a company's financial statements, including the annual and quarterly reports, the auditor's report, and much more.
IRS.gov - The source of all things tax related in the United States
Related Terms
Balance Sheet | Income Tax | Liability
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