INCOME TAX PROVISION

12 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 14 – INCOME TAX PROVISION

The Company accounts for income taxes under the provisions of FASB ASC 740, “Income Taxes”, formerly referenced as SFAS No.109, “Accounting for Income Taxes”. Under the provisions of FASB ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between their financial statement carrying values and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Significant judgment is required in determining any valuation allowance recorded against deferred tax assets. In assessing the need for a valuation allowance, the Company considers all available evidence including past operating results, estimates of future taxable income, and the feasibility of tax planning strategies. In the event that the Company changes its determination as to the amount of deferred tax assets that can be realized, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made.

The provision for income taxes is as follows:

	September 30, 2015		September 30, 2014
Current taxes payable
Federal	$	5,594	$	14,048
State		5,506		13,825
Foreign		(10,183)		34,159
Deferred tax asset:		-		-
Deferred tax valuation allowance		-		-
Total	$	917	$	62,032

Reconciliation of the federal statutory income tax rate to the effective income tax rate is as follows:

	For the Fiscal Year		For the Fiscal Year
	Ended		Ended
	September 30, 2015		September 30, 2014
U.S. statutory rate	34.00	%	34.00	%
State income taxes (net of federal benefit)	9.00		9.00
Permanent differences	(42.97)		(37.40)
Benefit of net operating loss carry-forward	0.00		0.00
Effective rate	0.03	%	5.60	%

At September 30, 2015 and 2014, the Company has no net operating loss carryovers.