Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.19.1
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure Income Taxes Tables Abstract  
Significant components of the income taxes

    2018     2017  
Current            
State and local   $ 82,000     $ 45,000  
Federal     2,226,000       2,012,000  
Total Current Tax Expense   $ 2,308,000     $ 2,057,000  
                 
Deferred                
State and local           1,000  
Federal           38,000  
Total Deferred Tax Expense           39,000  
                 
Total Income Taxes   $ 2,308,000     $ 2,096,000  
                 

Significant components of deferred tax assets

    2018     2017  
Deferred tax assets:            
Options, warrants and restricted stock units     168,000       168,000  
    $ 168,000     $ 168,000  

Significant components of federal income tax
    Years Ended  
    December 31,  
    2018     2017  
             
Income tax - statutory rate     21.00 %     34.0 %
State and local, net     1.75 %     0.73 %
Other Net     0.30 %     (1.08 )%
      23.05 %     33.65 %