|12 Months Ended|
Dec. 31, 2015
|Income Tax Disclosure [Abstract]|
NOTE 11. INCOME TAXES
There was no provision for income taxes for 2015 and 2014 due to a net operating losses and doubt as to the entitys ability to continue as a going concern resulting in a 100% valuation allowance. Years from 2012 forward are open to IRS examination.
The provision for income taxes differs from the amount computed by applying the federal statutory income tax rate (35%) on operations due primarily to permanent differences attributable to organizational expenses.
The components of the net deferred tax asset were as follows:
A valuation allowance has been established to offset deferred tax assets. The Companys accumulated net operating losses were approximately $5.6 million at December 31, 2015 and begin to expire if not utilized beginning in the year 2032.
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://www.xbrl.org/2003/role/presentationRef