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Income Taxes
3 Months Ended
Mar. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE – 8 INCOME TAXES

 

Milestone’s expected federal and state income tax liability and benefit computed at the statutory rate (40%) on the pre-tax income for the quarters ending March 31, 2015 and 2014, amounted to a liability of approximately $39,000 and $151,000, respectively. Such expense was recognized in the accompanying consolidated financial statements as of March 31, 2015 and 2014 with recognition of a net operating loss carryforward. Due to Milestone’s history of past operating losses, which required a full valuation allowances for all of Milestone’s deferred tax assets at March 31, 2015 and 2014, no recognition was given to the utilization of the remaining net operating loss carryforwards.