XML 150 R12.htm IDEA: XBRL DOCUMENT
v3.22.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Taxes |
Income Taxes | 6. Income Taxes: Consolidated loss before income taxes includes losses from foreign operations of $136,000 and $79,000 in 2021 and 2020, respectively. The net deferred tax assets/liabilities in the December 31, 2021 and 2020 consolidated balance sheets include the following components:
(in thousands) |  | 2021 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |
Loss carryovers |  | $ | 12,148 |  |  | $ | 12,636 |
Investment in Mineral Property |  |  | 1,669 |  |  |  | 1,669 |
Capitalized Exploration Costs |  |  | 418 |  |  |  | 410 |
Stock option compensation expense |  |  | 309 |  |  |  | 286 |
Unrealized loss on derivative securities |  |  | 98 |  |  |  | 148 |
Other |  |  | 91 |  |  |  | 110 |
Lease Liability |  |  | 18 |  |  |  | - |
Valuation allowance |  |  | (14,561 | ) |  |  | (15,050 | )
Total deferred tax assets |  |  | 190 |  |  |  | 209 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Unrealized gains on marketable equity securities |  |  | 173 |  |  |  | 207 |
Lease Asset |  |  | 17 |  |  |  | - |
Other |  |  | - |  |  |  | 2 |
Total deferred tax liabilities |  |  | 190 |  |  |  | 209 |
Net deferred tax liabilities |  | $ | - |  |  | $ | - |
A reconciliation of expected federal income taxes on income (loss) from continuing operations at statutory rates, with the expense for income taxes is as follows:
(in thousands) |  | 2021 |  |  | 2020 |
Expected income tax benefit |  | $ | (497 | ) |  | $ | (197 | )
Equity based compensation |  |  | 4 |  |  |  | 7 |
Foreign tax rate differences |  |  | (12 | ) |  |  | (8 | )
State income tax |  |  | (98 | ) |  |  | (37 | )
Expiration of Capital Loss and Foreign Tax Credit Carryovers |  |  | 1,385 |  |  |  | 1,225 |
Adjustment to Deferred Taxes |  |  | (114 | ) |  |  | (23 | )
Change in valuation allowance |  |  | (489 | ) |  |  | (949 | )
Change in Tax Rates |  |  | (194 | ) |  |  | - |
Permanent differences and other |  |  | 15 |  |  |  | (18 | )
Income tax (benefit) expense |  | $ | - |  |  | $ | - |
During 2021 and 2020, the valuation allowance decreased primarily due to the expiration of Capital Loss carryovers. At December 31, 2021, Solitario has unused US Federal Net Operating Loss carryovers of $21,106,000 and unused US State Net Operating Loss carryovers of $22,974,000 which begin expiring in 2027. As a result of the ownership change of Zazu Metals (Alaska) Corp, utilization of some of these federal and state losses will be limited due to the annual limitation provided by Section 382 of the Internal Revenue Code. Solitario has unused Capital Loss carryovers of $319,000 for US Federal and US State purposes which begin expiring in 2025. Solitario has Canadian loss carryforwards of $9,944,000 which begin expiring in 2027. Other foreign loss carryforwards for which Solitario has provided a full valuation allowance related to Solitario’s exploration activities in Peru. The Peru losses do not expire. Solitario adopted ASC 740, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 requires that Solitario recognize in its consolidated financial statements, only those tax positions that are “more-likely-than-not” of being sustained as of the adoption date, based on the technical merits of the position. As a result of the implementation of ASC 740, Solitario performed a comprehensive review of its material tax positions in accordance with recognition and measurement standards established by ASC 740. The provisions of ASC 740 had no effect on Solitario’s financial position, cash flows or results of operations at December 31, 2021 or December 31, 2020, or for the years then ended as Solitario had no unrecognized tax benefits. Solitario and its subsidiaries are subject to the following material taxing jurisdictions: United States Federal, State of Colorado, State of Alaska, State of South Dakota, Canada and Peru. Solitario’s United States federal, Canada and State of Alaska returns for years 2018 and forward and Solitario’s Peru and State of Colorado returns for tax years 2017 and forward are subject to examination. Solitario’s policy is to recognize interest and penalties related to uncertain tax benefits in income tax expense. Solitario has no accrued interest or penalties related to uncertain tax positions as of December 31, 2021, or December 31, 2020 or for the years then ended.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration