Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Components of the provision (benefit) for income taxes

The components of the provision (benefit) for income taxes are as follows:

 

    Years Ended December 31,  
    2014     2013  
CURRENT                
Federal   $ -     $ -  
State     -       -  
Total current tax provision     -       -  
                 
DEFERRED                
Federal     -       -  
State     -       -  
Total deferred tax provision     -       -  
Total tax provision (benefit)   $ -     $ -  
Components of deferred taxes

The Components of deferred taxes consists of the following:

 

Deferred Tax Assets:

 

Net operating loss carry-forward   $ (1,862,067 )   $ (1,683,764 )
Less: valuation allowance     (1,862,067 )     (1,683,764 )
Deferred tax assets     -       -  
Deferred tax liabilities     -       -  
                 
Net deferred tax asset   $ -     $ -  
Difference between the expected income tax expense (benefit) and the actual tax expense (benefit)

The difference between the expected income tax expense (benefit) and the actual tax expense (benefit) computed by using the Federal statutory rate of 34% is as follows:

 

    Year Ended December 31,  
    2014     2013  
             
Expected income tax benefit (loss) at statutory rate of 34%   $ 194,315     $ 226,964  
State and local tax benefit, net of federal     40,578       47,395  
Change in valuation account     (234,893 )     (274,359 )
                 
Income tax expense (benefit)   $ -     $ -