# ASC 272-10-60: Limited Liability Entities — Overall — 60 Relationships

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/272/10/#60-relationships)

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## ASC 272-10-60: 60 Relationships

[Read section](https://asc.understandingaccounting.org/asc/272/10/#60-relationships)

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#### Income Taxes

##### [272-10-60-1](https://asc.understandingaccounting.org/asc/272/10/#272-10-60-1)

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For guidance on recognizing the financial statement effects of a tax position, see paragraph [740-10-25-6](https://asc.understandingaccounting.org/asc/740/10/#740-10-25-6).

##### [272-10-60-2](https://asc.understandingaccounting.org/asc/272/10/#272-10-60-2)

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For guidance on recognizing a deferred tax liability or asset for temporary differences at the date that a nontaxable entity becomes a taxable entity, see paragraph [740-10-25-32](https://asc.understandingaccounting.org/asc/740/10/#740-10-25-32).

##### [272-10-60-3](https://asc.understandingaccounting.org/asc/272/10/#272-10-60-3)

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For guidance on adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, see paragraph [740-10-50-9](https://asc.understandingaccounting.org/asc/740/10/#740-10-50-9).

#### Business Combinations

##### [272-10-60-4](https://asc.understandingaccounting.org/asc/272/10/#272-10-60-4)

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For guidance on common control transactions, see Subtopic 805-50.