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7. Income Taxes

9 Months Ended

Dec. 31, 2014

The income tax provision consists of the following for the three and nine months ended December 31, 2014 and 2013:

		Three Months Ended		Nine Months Ended
		December 31		December 31
		2014	2013	2014	2013
	Current income tax	$ -	$ -	$ -	$ -
	Deferred income tax expense (benefit)	(13,856)	9,474	(21,759)	(42,783)
Total income tax provision:		$ (13,856)	$ 9,474	$ (21,759)	$ (42,783)

Effective tax rate		(7%)	10%	(24%)	(17%)

The change in our effective tax rate was primarily the result of a change in statutory depletion carryforward for the nine months ended December 31, 2014.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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