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Tiger Corporation reports tax-free interest from municipal bonds on its financial statements. What sort of difference will this create between US GAAP and TAX accounting,
Tiger Corporation reports tax-free interest from municipal bonds on its financial statements. What sort of difference will this create between US GAAP and TAX accounting, and will this difference result in a deferred tax asset (DTA) or deferred tax liability (DTL)? Future Taxable Amount which will result in a Deferred Tax Asset (DTA) Not enough information This would result in a GAAP-to-TAX difference that would NOT reverse in future years Future Deductible Amount which will result in a Deferred Tax Asset (DTA) Future Deductible Amount which will result in a Deferred Tax Liability (DTL) Future Taxable Amount which will result in a Deferred Tax Liability (DTL)
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