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Note 10 - Income Taxes
9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
10
.  
Income Taxes
:
 
Gyrodyne LLC is not subject to an entity level income tax but rather is treated as a pass-through entity with the taxable income or loss reported annually on a Form K-1 to its shareholders pro rata. FPI is a wholly-owned subsidiary of the Company. FPI is a “C” corporation and therefore any income generated by FPI is subject to a corporate level tax.