Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
6 Months Ended
Jun. 30, 2015
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE – 9 INCOME TAXES

Milestone Scientific’s expected federal and state income tax liability and benefit computed at the statutory rate (40%) on the pre-tax income. For the six month ending June 30, 2015, state tax liability was approximately $13,000 respectively. Such expense was recognized in the accompanying consolidated financial statements as of June 30, 2015. Due to Milestone Scientific’s history of past operating losses, which required a full valuation allowances for all of Milestone Scientific’s deferred tax assets at June 30, 2015 and 2014, no recognition was given to the utilization of the remaining Federal net operating loss carryforwards.