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Income Taxes: (Tables)
12 Months Ended
Feb. 29, 2016
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

 

 

2016

 

2015

 

Expected benefit

 

$

(681,734

)

$

(983,296

)

Effect of expenses deducted directly by Dr. Burzynski

 

681,734

 

983,296

 

Other adjustments

 

12,691

 

4,175

 

Change in valuation allowance

 

(12,691

)

(4,175

)

 

 

 

 

 

 

Income tax expense

 

$

 

$

 

 

 

 

 

 

 

 

 

 

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

 

 

2016

 

2015

 

Deferred tax assets:

 

 

 

 

 

Net operating loss carryforwards

 

$

222,957

 

$

235,514

 

Excess book (tax) depreciation

 

(230

)

(462

)

Accrued expenses

 

 

366

 

Alternative minimum tax credit carryforwards

 

42,603

 

42,603

 

 

 

 

 

 

 

Total deferred tax assets

 

265,330

 

278,021

 

Less valuation allowance

 

(265,330

)

(278,021

)

 

 

 

 

 

 

Net deferred tax assets

 

$

 

$

 

 

 

 

 

 

 

 

 

 

Schedule of expiration of net operating loss carryforwards

 

The net operating loss carryforwards expire as of February 28 or 29 of the following years:

 

2020

 

$

5,980 

 

2029

 

$

31,868 

 

2021

 

$

24,116 

 

2030

 

$

 

2022

 

$

67,855 

 

2031

 

$

 

2023

 

$

73,401 

 

2032

 

$

 

2024

 

$

69,394 

 

2033

 

$

207,097 

 

2025

 

$

13,475 

 

2034

 

$

76,642 

 

2026

 

$

46,972 

 

2035

 

$

 

2027

 

$

31,220 

 

2036

 

$

 

2028

 

$

7,737