Note 9 - Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2017 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
NOTE –
9 INCOME TAXESDue to Milestone Scientific's history of operating losses, a full valuation allowances has been provided for all of Milestone Scientific's deferred tax assets at
March 31, 2017 and December 31, 2016, no 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 of its deferred tax assets due to uncertainty as to their future realization. For the , respectivelythree month ended March 31, 2017 and December 31, 2016, state tax liability was approximately $7,201 and $47,000
. Such expense was recognized in the accompanying condensed consolidated financial statements.
|