# ASC 720-30-35: Other Expenses — Real and Personal Property Taxes — 35 Subsequent Measurement

Source: FASB Accounting Standards Codification, Basic View

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## ASC 720-30-35: 35 Subsequent Measurement

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##### [720-30-35-1](https://asc.understandingaccounting.org/asc/720/30/#720-30-35-1)

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Since the liability for property taxes must frequently be estimated at the balance-sheet date, it is often necessary to adjust the provision for taxes of a prior year when their amount has been ascertained. These adjustments should ordinarily be made through the income statement, either in combination with the current year's provision or as a separate item.