2.4.0.8110 - Disclosure - Income Taxestruefalsefalse1false falsefalseP01_01_2013To06_30_2013http://www.sec.gov/CIK0000907686duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_IncomeTaxDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Income Tax Disclosure [Abstract]2false 2us-gaap_IncomeTaxDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00 <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><strong><font style="FONT-SIZE: 10pt">4. Income Taxes</font></strong><font style="FONT-SIZE: 10pt"></font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company has recorded a full valuation allowance against its net deferred tax assets as management believes that, after considering all the available objective evidence, both positive and negative, historical and prospective, with greater weight given to historical evidence, it is more likely than not that the deferred tax assets at June 30, 2013 will not be realized.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">At June 30, 2013 the Company had available net operating loss <font class="SpellE"> carryforwards</font> for federal and state income tax purposes of approximately $<font style=" FONT-SIZE: 10pt">16,700,000</font> and $<font style=" FONT-SIZE: 10pt">12,300,000</font>, respectively, which may be used to offset future taxable income, subject to the limits discussed below. The transaction for the AMS Inc. acquisition most closely resembles a Type C reorganization under IRC Section 368 (a1C). In a Type C reorganization one corporation acquires nearly all properties of another corporation in exchange solely for all or a part of its own or its controlling parent’s voting stock followed by the acquired corporation’s distribution of all its properties pursuant to the plan of reorganization. This type of transaction qualifies as a non-taxable transaction under IRC Section 368 (a1C). These Net Operating Losses (<font class="SpellE">NOLs</font>) are subject to review and possible adjustment by the Internal Revenue Service (“IRS”) and state tax authorities. The federal <font class="SpellE">NOLs</font> expire at various dates through <font style=" FONT-SIZE: 10pt">2032</font>. For state purposes, Massachusetts has a five year net operating loss carryover rule for tax years beginning before January 1, 2010. At June 30, 2013, there are $<font style=" FONT-SIZE: 10pt">3,700,000</font> in Massachusetts <font class="SpellE">NOLs</font> set to expire at various dates through <font style=" FONT-SIZE: 10pt">2015</font>. For tax years beginning on or after January 1, 2010, Massachusetts has adopted a twenty year NOL carryover rule and has $<font style=" FONT-SIZE: 10pt">8,400,000</font> in net operating loss <font class="SpellE">carryforwards</font> that are set to expire at various dates through <font style=" FONT-SIZE: 10pt">2032</font>. The Company has available net operating loss <font class="SpellE"> carryforwards</font> for New York State purposes in the amount of $<font style=" FONT-SIZE: 10pt">202,000</font> that are set to expire at various dates through <font style=" FONT-SIZE: 10pt"> 2032</font>.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"><font style="FONT-SIZE: 10pt"> </font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">In addition, $<font style=" FONT-SIZE: 10pt">87,000</font> of Massachusetts investment tax and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Research & Development</font> credits are available to the Company as <font class="SpellE">carryforwards</font>, expiring in various dates through <font style=" FONT-SIZE: 10pt">2015</font>. Of these credits $<font style=" FONT-SIZE: 10pt">4,000</font> of investment tax and $<font style=" FONT-SIZE: 10pt">22,000</font> of R&D are subject to IRC Section 382 as they are considered as part of the pre-change losses and are fully limited. The remaining $<font style=" FONT-SIZE: 10pt">66,000</font> do not expect to be utilized until the Massachusetts net operating loss <font class="SpellE"> carryforward</font> is exhausted and is fully reserved for in the Company’s deferred tax valuation allowance.</font></div> </div> falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 false0Income TaxesfalseIncome TaxesUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.plurestechnologies.com/role/IncomeTaxes12