Note 8 - Income Taxes
|9 Months Ended|
Sep. 30, 2016
|Notes to Financial Statements|
|Income Tax Disclosure [Text Block]||
– 8 INCOME TAXES
For the nine months ended September 30, 2016 and 2015, state tax credit $29,300 and li
ability was $40,751, respectively. 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 September 30, 2016 and 2015, no recognition was given to the utilization of the remaining Federal net operating loss carryforwards.
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