INCOME TAXES	3 Months Ended
Jun. 30, 2020
INCOME TAXES
INCOME TAXES	NOTE 5 - INCOME TAXES We account for income taxes under the provisions of FASB ASC 740, Income Taxes. The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings before taxes, adjusted for the impact of discrete quarterly items. The income tax benefit was $37,360 for the three months ended June 30, 2020 and the provision for income taxes was $90,218 for the three months ended June 30, 2019. The Company's estimated effective tax rates for the three months ended June 30, 2020 and 2019 was 24.3% and 29.0%, respectively. The valuation allowance on deferred tax assets was approximately $1.8 million at June 30, 2020. We believe that it is more likely than not that the benefit from certain state and foreign net operating losses, or NOL, carryforwards and other deferred tax assets will not be realized. In the event future taxable income is below management’s estimates or is generated in tax jurisdictions different than projected, the Company could be required to increase the valuation allowance for deferred tax assets. This would result in an increase in the Company’s effective tax rate.

NOTE 5 - INCOME TAXES

We account for income taxes under the provisions of FASB ASC 740, Income Taxes. The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings before taxes, adjusted for the impact of discrete quarterly items. The income tax benefit was $37,360 for the three months ended June 30, 2020 and the provision for income taxes was $90,218 for the three months ended June 30, 2019. The Company's estimated effective tax rates for the three months ended June 30, 2020 and 2019 was 24.3% and 29.0%, respectively.

The valuation allowance on deferred tax assets was approximately $1.8 million at June 30, 2020. We believe that it is more likely than not that the benefit from certain state and foreign net operating losses, or NOL, carryforwards and other deferred tax assets will not be realized. In the event future taxable income is below management’s estimates or is generated in tax jurisdictions different than projected, the Company could be required to increase the valuation allowance for deferred tax assets. This would result in an increase in the Company’s effective tax rate.