NAC706.783. Accounts for payroll taxes withheld and accrued and accrued payroll benefits.

     1. The account for payroll taxes withheld and accrued includes all amounts withheld from employees’ wages or salaries that are payable to a governmental agency and any accrued liabilities of the company owing to a governmental agency, the liability for which was determined on the basis of a percentage of payroll. This account must be maintained so as to permit ready identification of the company’s liability to each governmental agency.

     2. The account for accrued payroll benefits:

     (a) Includes all amounts withheld from employee wages or salaries that are payable to other than a governmental agency at the end of each month.

     (b) Includes all liabilities incurred by the company that are payable to other than a governmental agency, the liability for which arises as a result of having employees.

     (c) Must be maintained to permit ready identification for such liability as between the employees and the company and the class of liability accrued, for example, welfare, pension contributions and other contributions.

     [Taxicab Auth., Uniform System of Accounts Reg. §§ 320 & 321, eff. 12-24-70; A 11-16-79]