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Note 4 - Provision for Income Taxes
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
Note
4
.             Provision for Income Taxes
 
A reconciliation between taxes computed at the Federal statutory rate and the effective tax rate in the statements of operations follows:
 
 
   
Year Ended December 31,
  
   
2016
    
2015
  
   
Amount
   
%
   
Amount
   
%
 
Provision based on the
statutory rate
   $
(2,034,000
 )    
(34.0
 )   $
(7,357,000
 )    
(34.0
 )
                                 
Tax effect of:
                                
Non-taxable status of the
Programs and Everflow
    
1,881,000
     
31.4
     
7,130,000
     
32.9
 
Excess statutory depletion
    
-
     
0.0
     
(30,000
 )    
(0.1
 )
Graduated tax rates, permanent
differences between book and
tax items, tax credits and
other - net
    
133,400
     
2.2
     
147,600
     
0.7
 
                                 
Total
   $
(19,600
 )    
(0.4
 )   $
(109,400
 )    
(0.5
 )
 
As referred to in Note
1,
EEI accounts for deferred income taxes under the provisions of generally accepted accounting principles. Items giving rise to deferred taxes consist of temporary differences arising from differences in financial reporting and tax reporting methods for EEI's proved properties.