INCOME TAXES

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 11 – INCOME TAXES

For the periods ended March 31 2022, and March 31, 2021, the Company used a discrete effective tax rate method for recording income taxes, as compared to an estimated full year annual effective tax rate method, as an estimate of the annual effective tax rate cannot be made.

Provision for income taxes for the three months ended March 31, 2022 was $6,000, resulting in an effective tax rate of 0.3%. Provision for income taxes for the three months ended March 31, 2021 was $143,003, resulting in an effective tax rate of 2.8%. The provision for income taxes was primarily impacted by the change in valuation allowance on deferred tax assets.