Income Tax (Tables)

6 Months Ended

Jun. 30, 2013

Income Tax Tables

Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Liabilities

The following table summarizes the temporary differences which result in deferred tax assets and liabilities as at June 30, 2013 and December 31, 2012:

		June 30,		December 31,
		2013		2012
Deferred tax assets:
Net operating loss	$	466,275	$	511,035
less: Valuation allowance		(466,275)		(511,035)
Total deferred tax assets		-		-
Deferred tax liabilities:		-		-
Deferred tax assets, net	$	-	$	-

Schedule of Effective Income Tax Rate and Amount Reconciliation

The following table reconciles the U.S. statutory rates to the Company's effective tax rates for the three and six months ended June 30, 2013 and 2012:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2013	2012	2013	2012
US statutory rates	34.00%	34.00%	34.00%	34.00%
Tax rate difference	-4.06%	-0.69%	-0.44%	-1.13%
Valuation allowance	-243.33%	-44.68%	-54.72%	-53.85%
State taxes	-139.83%	0.00%	7.95%	0.00%
Non-taxable income of pass through entity	219.06%	11.37%	5.23%	20.98%
Tax per financial statements	-134.16%	0.00%	-7.99%	0.00%