INCOME TAXES	9 Months Ended
Sep. 30, 2011
INCOME TAXES	INCOME TAXES The Company’s adoption of FASB ASC 740-10 did not have a material effect on the Company’s financial statements as the Company believes they have no uncertain tax positions. As of September 30, 2011, the Company had net operating loss carry forwards (NOL’s) for federal income tax purposes of approximately $575,000. The federal NOL’s are available to offset future taxable income and expire from 2015 through 2028 if not utilized. There can be no assurance that the Company will realize the entire benefit of the NOL’s, however, in the first quarter of 2011, the Company recognized tax provisions of $55,116 due to the “more likely than not” utilization of net operating loss carry forwards. For the third quarter ending September 30, 2011, the Company recognized a reduction of approximately $135,000 in federal income tax expense, an increase in Maryland state income tax expense of approximately $9,800 (approximately $5,500 related to 2010 and approximately $4,300 estimated for 2011) and a reduction of approximately $17,700 in local income tax expense. These adjustments were recorded to true up the various tax accrual accounts to reflect our best estimate of what is owed to each of the tax authorities as of September 30, 2011. In the third quarter of 2011, the Company also recognized a reduction in deferred tax liabilities of approximately $56,300 due to adjustments in the accelerated deductibility of various Section 179 property. For the nine months ended September 30, 2011, the Company recognized total federal income tax expense of approximately $160,000, Maryland state income tax expense of approximately $9,800 and a local income tax benefit of approximately $3,600 to correct for an overpayment for the 2010 tax year. As of September 30, 2010, the Company had NOL’s for federal income tax purposes of approximately $611,000. In the third quarter of 2010 the Company recorded an $18,575 offset to income tax expense due to the updated recalculation of net deferred tax assets anticipated at December 31, 2010. The effective tax rate for both the three and nine months ended September 30, 2011 and 2010 is different from the tax benefit that would result from applying the statutory tax rates primarily due to the recognition of valuation differences.

INCOME TAXES

9 Months Ended

Sep. 30, 2011

The Company’s adoption of FASB ASC 740-10 did not have a material effect on the Company’s financial statements as the Company believes they have no uncertain tax positions.

As of September 30, 2011, the Company had net operating loss carry forwards (NOL’s) for federal income tax purposes of approximately $575,000. The federal NOL’s are available to offset future taxable income and expire from 2015 through 2028 if not utilized. There can be no assurance that the Company will realize the entire benefit of the NOL’s, however, in the first quarter of 2011, the Company recognized tax provisions of $55,116 due to the “more likely than not” utilization of net operating loss carry forwards.

For the third quarter ending September 30, 2011, the Company recognized a reduction of approximately $135,000 in federal income tax expense, an increase in Maryland state income tax expense of approximately $9,800 (approximately $5,500 related to 2010 and approximately $4,300 estimated for 2011) and a reduction of approximately $17,700 in local income tax expense. These adjustments were recorded to true up the various tax accrual accounts to reflect our best estimate of what is owed to each of the tax authorities as of September 30, 2011. In the third quarter of 2011, the Company also recognized a reduction in deferred tax liabilities of approximately $56,300 due to adjustments in the accelerated deductibility of various Section 179 property. For the nine months ended September 30, 2011, the Company recognized total federal income tax expense of approximately $160,000, Maryland state income tax expense of approximately $9,800 and a local income tax benefit of approximately $3,600 to correct for an overpayment for the 2010 tax year.

As of September 30, 2010, the Company had NOL’s for federal income tax purposes of approximately $611,000. In the third quarter of 2010 the Company recorded an $18,575 offset to income tax expense due to the updated recalculation of net deferred tax assets anticipated at December 31, 2010.

The effective tax rate for both the three and nine months ended September 30, 2011 and 2010 is different from the tax benefit that would result from applying the statutory tax rates primarily due to the recognition of valuation differences.