Taxes that are levied in one year but not available until the following year are recognized as:

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Taxes that are levied in one year but not available until the following year are recognized as Deferred Inflows of resources. This is because the inflow of resources (tax revenue) is not yet available for use or recognition until the following year. Accrued expenses and inflows, on the other hand, reflect expenses or revenues that have been incurred or earned but not yet recognized in the financial statements. Deferred expenses, meanwhile, are costs that have already been incurred or paid but will be recognized as expenses in future periods.

Taxes That Are Levied in One Year but Not Available