XML 24 R14.htm IDEA: XBRL DOCUMENT v3.19.2
Note 8 - Income Taxes
6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Taxes

NOTE 8 — Income Taxes

 

The Tax Cuts and Jobs Act of 2017, effective on January 1, 2018, eliminates alternative minimum taxes and lowers the U.S. federal corporate income tax from 34% to 21%. In the three and six months ended June 30, 2019, the Company recorded deferred tax expenses of $68,749 and $75,419, respectively. In the same periods a year ago, the Company recorded income tax benefits of $53,707 and $133,634, respectively, with the expectation of a return to profitable operating results and full utilization of the Company’s Net Operating Loss carryforwards.