Income Taxes

The provision (benefit) for income taxes from continued operations for the years ended December 31, 2016, 2015 and 2014 consist of the following:



	2016			2015			2014
Current:
Federal	$	—		$	—		$	—

Deferred:
Federal	—			—			—

Income taxes provision	$	—		$	—		$	—

Federal statutory rate	(34.0		)%	(34.0		)%	(34.0		)%
Change in valuation allowance	34.0		%	33.8		%	32.0		%
Other	—		%	0.2		%	2.0		%
	—		%	—		%	—		%

Deferred income taxes at December 31, 2016 and 2015 consisted of the following:



	December 31, 2016			December 31, 2015
Asset retirement obligation	$	2,290,315		$	1,944,953
Mineral rights and properties, plant, and equipment	839,360			(5,853		)
Mining exploration, development, claims, and permit costs	10,705,987			10,616,416
Net operating loss carryforward	53,021,957			50,333,692
Other	869,666			435,598
Valuation allowance	(67,727,285		)	(63,324,806		)
Total net deferred tax assets	$	—		$	—

At December 31, 2016, the Company had federal net operating losses of approximately $155.9 million that will begin to expire in 2023 and could be subject to certain limitations under section 382 of the Internal Revenue Code.

The Company has provided a valuation allowance at December 31, 2016 and 2015 of $67.7 million and $63.3 million, respectively, for its net deferred tax assets as it cannot conclude it is more likely than not that they will be realized. The valuation allowance increased by $4.4 million, $3.5 million, and $3.1 million in 2016, 2015, and 2014, respectively.

As of December 31, 2016 and 2015, the Company did not have any unrecognized tax benefits. The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since its inception. The Company is subject to U.S. federal and state income tax examination for tax years 2013 and forward.