What are tax custodial funds


Question: Tax custodial funds Multiple Choice Are used by a county's assessor to compute the amount of taxes due on the properties contained within the county. Are required to account for a government's collection and remittance of federal and state payroll taxes. Are not allowed to charge for the services rendered to the various governmental funds and other governments. Are used to account for the collection and distribution of taxes when one government collects taxes for multiple funds and governments

 

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Accounting Basics: What are tax custodial funds
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