Income Taxes

9 Months Ended

Sep. 30, 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 September 30, 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 condensed consolidated statement of operations shows an effective rate of 0% and 3% for the three months ended September 30, 2019 and September 30, 2018, respectively.

The condensed consolidated statement of operations shows an effective rate of 0% and 16% for the nine months ended September 30, 2019 and September 30, 2018, respectively.

The income tax provision (benefit) for the three months ended September 30, 2019 and 2018 consists of:

	2019		2018
Current:
Federal	$	—	$	(19,000	)
State		—		11,000
Deferred:
Federal		—		13,000
State		—		1,000
Income Tax (Benefit)	$	—	$	6,000

The income tax provision (benefit) for the nine months ended September 30, 2019 and 2018 consists of:

	2019			2018
Current:
Federal	$	—		$	(93,000	)
State		—			(10,000	)
Deferred:
Federal		(11,340	)		30,000
State		(660	)		2,000
Income Tax (Benefit)	$	(12,000	)	$	(71,000	)