Note 16 - Income Taxes

6 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Income Tax Disclosure [Text Block]

NOTE 16 – INCOME TAXES

The provision for income taxes consisted of the following:

	September 30, 2025		September 30, 2024
Current:
Federal	$	-	$	-
State	$	1,500	$	1,000
Total	$	1,500	$	1,000
Deferred
Federal	$	-	$	-
State	$	-	$	-
Total	$	-	$	-
Provision for income taxes	$	1,500	$	1,000

The reconciliation of federal statutory income tax rate to our effective income tax rate is as follows:

	9/30/2025			9/30/2024
Book income at federal statutory rate, 21%		44,749			46,301
State Adjustments		(315	)		(315	)
State Capital Taxes		1,500			1,000
State taxes, net of federal benefit		(29,313	)		(29,765	)
Permanent Items		505			-
Prior Year Deferred Tax Asset/(L) True Up		-			-
Valuation Allowance		(15,626	)		(16,221	)
Federal research & development credit generated		-			-
		1,500			1,000

Deferred income taxes reflect the net effects of temporary difference between the carrying amounts of assets and liabilities for financial reporting purposes the amounts used for income tax purposes. Significant components of deferred tax assets are as follows:

Deferred tax assets/(liabilities)	9/30/2025			9/30/2024
Federal Net operating loss carryovers		282,489			333,942
New Jersey Net operating loss carryovers		177,127			173,679
Federal R&D Credit		316,772			316,772
New Jersey R&D Credit		-			-
Depreciation & Amortization		146,295			73,209
Allowance For Doubtful Accounts		364,969			364,969
Stock Comp Expense		42,715			42,715
Gross deferred tax assets		1,330,367			1,305,286
Valuation allowance		(1,330,367	)		(1,305,286	)
Total deferred tax assets		-			-