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Note 8 - Taxes
3 Months Ended
Mar. 31, 2019
Income Tax Disclosure [Abstract]  
Taxes

NOTE 8 — Taxes

 

The Tax Cuts and Jobs Act of 2017, effective on January 1, 2018, eliminated alternative minimum taxes and lowered the U.S. federal corporate income tax from 34% to 21%. In the first quarter of 2019, the Company recorded a deferred tax expense of $6,670. In the same quarter a year ago, the Company recorded a deferred tax benefit of approximately $80,000 with the expectation of a return to profitable operating results and full utilization of the Company’s Net Operating Loss carryforwards.