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Is income tax payable located on a balance sheet or income statement?
Wiki User
∙ 13y ago
No. Income taxes payable is a liability and would show up on the balance sheet (although it might not have its own caption depending on how material the number is compared to the rest of the Company's liabilities). The income statement account that is typically "the partner" to the income taxes payable account is the current tax provision.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoIncome tax payable is liability and all liabilities arrives in balance sheet and that;s why it is come in balance sheet while in income statement those revenue or expenses arrives which already has occured in current fiscal year.
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