Annual report pursuant to Section 13 and 15(d)

NOTE 6. INCOME TAXES (Tables)

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NOTE 6. INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Schedule of provision for income tax

The provision for Federal income tax consists of the following for the years ended December 31, 2017 and 2016:

 

    2017     2016  
             
Income tax benefit attributable to:            
Net loss     (676,147 )     (595,130 )
Permanent differences     142,446       (21,431 )
Valuation allowance     533,701       616,561  
Net provision for income tax     -       -  
Schedule of deferred tax asset

The cumulative tax effect at the expected federal tax rate of 34% of significant items comprising our net deferred tax amount is as follows on December 31, 2017 and 2016:

 

    2017     2016  
             
Deferred tax asset attributable to:            
Net operating loss carry forward     8,198,000     7.299,000  
Valuation allowance     (8,198,000 )     (7,299,000 )
Net deferred tax asset     -       -  

 

The cumulative tax effect at the expected state tax rate of 5% of significant items comprising our net deferred tax amount is as follows on December 31, 2017 and 2016:

 

    2017     2016  
             
Deferred tax asset attributable to:            
Net operating loss carry forward     410,000       365,000  
Valuation allowance     (410,000 )     (365,000 )
Net deferred tax asset     -       -