Income Taxes

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note 6. Income Taxes

There is no provision for federal income taxes for the three and six months ended June 30, 2021 and 2020 due to the availability of net operating loss carryforwards. Our Company has established a valuation allowance for the entire amount of benefits resulting from our Company’s net operating loss carryforwards because our Company has determined that the realization of the net deferred tax asset is not assured.

The components for state income tax expense resulting from the limitation on the use of net operating losses are:

	Three Months ended June 30,				Six Months ended June 30,
	2021		2020		2021		2020
Current state taxes	$	4,600	$	5,000	$	11,900	$	5,300
Deferred state taxes		–		–		–		(47,400	)
Income tax expense (benefit)	$	4,600	$	5,000	$	11,900	$	(42,100	)

During the first quarter of 2020, our Company reversed $47,400 of accrued Pennsylvania income taxes that are not payable.

There was no change in unrecognized tax benefits during the period ended June 30, 2021 and there was no accrual for uncertain tax positions as of June 30, 2021. Tax years from 2017 through 2020 remain subject to examination by U.S. federal and state jurisdictions.