220 CMR, 52.313
Current through Register 1538, January 3, 2025
This account shall be credited at the close of each accounting period with the amount of taxes accrued during the period, and a corresponding charge shall be made to the appropriate Taxes account. Credits to the account Tax Liability will necessarily be based upon estimate until the amount of tax levied for the tax period is known; such estimates shall be based upon the best data available, and as soon as the amount of tax for the period is known, the amount involved shall be adjusted to conform. When any tax is paid it shall be charged to this account. If the taxes paid are in excess of the taxes accrued the amount of the excess shall be shown in red.
220 CMR, 52.313