Is witholding tax payable a current liability or a non-current liability?

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Is witholding tax payable a current liability or a non-current liability?

Why?

2007-05-31 01:34:58 · 4 answers · asked by IceMist 2 in Business & Finance ➔ Other - Business & Finance

4 answers

Any liability due within 1 year or less is a current liability.

2007-05-31 01:38:29 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

Witholding tax payable is a current liability. Current liabilities are liabilities that are expected to be paid within a year.

2007-05-31 01:39:16 · answer #2 · answered by Ashley I 2 · 0⤊ 0⤋

Current. They will be due either this month or this quarter. So, the correct nomenclature would be Short-term Liability. Long-term liabilities cover anything payable for more than one year.

2007-05-31 01:39:22 · answer #3 · answered by mommafrog 3 · 0⤊ 0⤋

very confusing point. check out into google. that will help!

2016-05-17 11:47:51 · answer #4 · answered by melaine 3 · 0⤊ 0⤋