Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Income Taxes

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Note 11 - Income Taxes
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE 
11
 — INCOME TAXES
 
Due to Milestone Scientific's history of operating losses, a full valuation allowances have been provided for all of Milestone Scientific's deferred tax assets. As of
September 30, 2018,
and
December 31, 2017,
no
recognition was given to the utilization of the remaining net operating loss carry-forwards in each of these periods.
 
The utilization of Milestone Scientific's net operating losses
may
be subject to a substantial limitation due to the "change of ownership provisions" under Section
382
of the Internal Revenue Code and similar state provisions. Such limitation
may
result in the expiration of the net operating loss carry forwards before their utilization. Milestone Scientific has established a
100%
valuation allowance for all its deferred tax assets due to uncertainty as to their future realization.  
 
Accounting for uncertainties in income taxes prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and provides guidance on derecognition, classification, interest and penalties, disclosure and transition. At
September 30, 2018,
and
December 31, 2017,
we had
no
uncertain tax positions that required recognition in the consolidated financial statements Tax returns for the
2014,
2015,
 
2016
and
2017
years are subject to audit by federal and state jurisdictions.