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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes [Abstract]

Schedule of he income tax provision

		During the Year Ended December 31,
		2018				2017
Current
Federal		$	—			$	—
State			(820	)			14,476
Current subtotal			(820	)			14,476
Deferred
Federal			(274,495	)			(173,180	)
State			(504,072	)			(111,629	)
Deferred subtotal, gross			(778,567	)			(284,809	)
Valuation allowance			1,241,007				—
Deferred subtotal, net			462,440				(284,809	)
Income tax expense (benefit)		$	461,620			$	(270,333	)

Schedule of actual income tax expense (benefit) differs from the expected tax

		During the Year Ended December 31,
		2018								2017
		$				%				$				%
Computed expected tax benefit/rate		$	(390,610	)			(21.00	)%		$	(149,083	)			(34.00	)%
State income taxes, net of federal expense			136,843				7.36				30,089				6.86
Share-based compensation			67,181				3.61				55,955				12.76
Tax credits			(602,813	)			(32.41	)			(137,983	)			(31.47	)
Deferred tax statutory rate change			—				—				(71,034	)			(16.20	)
Valuation allowance			1,241,007				66.72				—				—
Other			10,012				0.54				1,723				0.40
Income tax expense (benefit)/rate		$	461,620				24.82	%		$	(270,333	)			(61.65	)%

Schedule of components of our deferred tax assets, net

		As of December 31,
		2018				2017
Product rights		$	14,226			$	29,261
Property, plant and equipment			(2,534,799	)			(527,186	)
Federal general business tax credits			407,023				335,486
Federal net operating loss carryforwards			2,486,263				359,764
State tax credits carryover			845,967				242,244
Interest rate swaps			(10,052	)			233
Prepaid expenses and other			13,354				16,355
UNICAP			19,025				16,569
Valuation allowance			(1,241,007	)			—
Deferred tax assets, net		$	—			$	472,726

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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