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Income Taxes: (Tables)
12 Months Ended
Feb. 28, 2013
Income Taxes:  
Schedule of actual provision for income tax that differs from the amounts computed by applying the U.S. federal income tax rate to the pretax loss

 

 

 

2013

 

2012

 

 

 

 

 

 

 

Expected benefit

 

$

(2,209,594

)

$

(2,433,605

)

Effect of expenses deducted directly by Dr. Burzynski

 

2,209,594

 

2,433,605

 

Other adjustments

 

(51,160

)

165,068

 

Change in valuation allowance

 

51,160

 

(165,068

)

 

 

 

 

 

 

Income tax expense

 

$

 

$

 

Schedule of components of the Company's deferred income tax assets

 

 

 

2013

 

2012

 

Deferred tax assets:

 

 

 

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$

211,858

 

$

159,410

 

Excess book (tax) depreciation

 

(616

)

(641

)

Accrued expenses

 

5,925

 

7,238

 

Alternative minimum tax credit carryforwards

 

42,603

 

42,603

 

 

 

 

 

 

 

Total deferred tax assets

 

259,770

 

208,610

 

Less valuation allowance

 

(259,770

)

(208,610

)

 

 

 

 

 

 

Net deferred tax assets

 

$

 

$

 

Schedule of expiration of net operating loss carryforwards

 

Year ending

 

 

 

February 28, or 29,

 

 

 

 

 

 

 

2020

 

$

49,976

 

2021

 

$

24,116

 

2022

 

$

67,855

 

2023

 

$

73,401

 

2024

 

$

69,394

 

2025

 

$

13,475

 

2026

 

$

46,972

 

2027

 

$

31,220

 

2028

 

$

7,737

 

2029

 

$

31,868

 

2030

 

$

 

2031

 

$

 

2032

 

$

 

2033

 

$

207,097