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INCOME TAXES

12 Months Ended

Dec. 31, 2014

NOTE H – INCOME TAXES

At December 31, 2014, the Company had net operating loss carry forwards of approximately $7.4 million, which expire between 2014 and 2027.

Forms 1120, U.S, Corporation Income Tax Returns, for the years ending December 31, 2014, 2013, 2012 are subject to examination, by the IRS, generally for three years after they are filed.

The following table presents the principal reasons for the difference between the Company's effective tax rate and the United States statutory income tax rate.

	2014			2013			2012
Federal income tax at statutory rate per books	$	0		$	149		$	59
Change in valuation allowance		0			0			0
Net operating loss		0			(149	)		(59	)
Federal income tax per tax return	$	0		$	0		$	0

Effective income tax rate		0.00	%		0.00	%		0.00	%

- Definition

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.

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