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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Summary of income tax provision

		Year Ended December 31,
		2017				2016
Federal		$	-			$	-
State			14,476				13,585
Current			14,476				13,585
Federal			(173,180	)			252,659
State			(111,629	)			(16,370	)
Deferred			(284,809	)			236,289
Total		$	(270,333	)		$	249,874

Summary of actual income tax expense

		Year Ended December 31,
		2017								2016
		$				%				$				%
Computed expected tax expense/rate		$	(149,083	)			(34.00	%)		$	257,829				34.00	%
State income taxes, net of federal expense			30,089				6.86				38,855				5.12
Share-based compensation			55,955				12.76				13,362				1.76
Tax credits			(137,983	)			(31.47	)			(70,967	)			(9.36	)
Deferred tax statutory rate change			(71,034	)			(16.20	)			-				-
Other			1,723				0.40				10,795				1.43
Total income tax expense/rate		$	(270,333	)			(61.65	%)		$	249,874				32.95	%

Schedule of deferred tax asset, net

		As of December 31,
		2017				2016
Product rights		$	29,261			$	68,197
Property, plant and equipment			(527,186	)			(307,976	)
Federal and state tax credits			335,486				292,516
Federal net operating loss carryforward			359,764				8,856
State tax credits carryover			242,244				100,528
Interest rate swap			233				13,437
Prepaid expenses and other			16,355				(6,240	)
UNICAP			16,569				31,685
Deferred tax assets, net		$	472,726			$	201,003

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- References

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: 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=84230637&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: 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=84230637&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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