Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 6 - INCOME TAXES

As of December 31, 2018, the Company had utilized all net operating loss carry forwards for income tax reporting purposes that were previously available to be offset against future taxable income through 2034. An operating loss carry forward of approximately $861,000 is available to the Company indefinitely and up to 80% of the operating loss can be used against future taxable income. The net deferred tax (liability)benefit as of March 31, 2019 and December 31, 2018 was $0 and $(12,000), respectively, and is reflected in long-term liabilities in the accompanying consolidated balance sheets.

The statement of operations shows an effective rate of 3% and 9% at March 31, 2019 and December 31, 2018, respectively.

 
The income tax provision (benefit) for the three months ended March 31, 2019 and 2018 consists of:

	2019			2018
Current:
Federal	$	—		$	(21,000	)
State		—			(6,000	)
Deferred:
Federal		(11,340	)		8,500
State		(660	)		500
Income Tax (Benefit)	$	(12,000	)	$	(18,000	)