Note 5 - Income Taxes
|6 Months Ended|
Jun. 30, 2018
|Notes to Financial Statements|
|Income Tax Disclosure [Text Block]||
The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate on continuing operations for the
June 30, 2018:
December 31, 2017,the Company's net operating loss carryforwards excluded potential tax benefits of
$3.9million as a result of uncertainty regarding interpretation of the new U.S. tax legislation signed into law on
December 22, 2017.Subsequent guidance has confirmed that the Company should recognize the tax benefits of
$3.9million and therefore, for the
sixmonths ending June
2018,the Company removed the valuation allowance previously established against the net operating loss carryforwards.
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef