If a company's ﬁscal year is the same as the year used for property tax purposes, there should be no prepaid property tax on its year-end ﬁnancial statements but there may be a property tax liability.

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If the company's fiscal year is the same as the year used for property tax purposes, then there should be no prepaid property tax on its year-end financial statements. However, there may still be a property tax liability that needs to be recorded on the financial statements.

If a Company's ﬁScal Year Is the Same as the Year