On December 31, 2019, the Town Hall Company had a deferred tax liability balance of $12,570, arising from an excess of MACRS depreciation purposes over straight-line depreciation for accounting purposes. The tax effects of that timing difference are expected to reverse in the followin Year Timing Difference Enacted Tax Rate Deferred Tax Liability 2020 $16.000 30% $4,800 2021 9,500 35% 3,325 2022 12,700 35% 4,445 $12,570 On December 31, 2019, the Town Hall Company had a deferred tax liability balance of $12,570, arising from an excess of MACRS depreciation purposes over straight-line depreciation for accounting purposes. The tax effects of that timing difference are expected to reverse in the followin Year Timing Difference Enacted Tax Rate Deferred Tax Liability 2020 $16.000 30% $4,800 2021 9,500 35% 3,325 2022 12,700 35% 4,445 $12,570