Income Taxes (Details Narrative) - USD ($) |
12 Months Ended | ||
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Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
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Corporate tax rate | 21.00% | 21.00% | |
Income tax description | On December 22, 2017, the Tax Cuts and Jobs Act ("The Act"), was signed into law by President Trump. The Act includes a number of provisions, including the lowering of the U.S. corporate tax rate from 35 percent to 21 percent, effective January 1, 2018 and the establishment of a territorial-style system for taxing foreign-source income of domestic multinational corporations. | ||
Provisional decrease in deferred tax assets | $ 4,900,000 | ||
Income tax benefit | 506,920 | $ 400,000 | |
Deferred tax assets, valuation allowance | 19,702,000 | $ 14,504,000 | |
Valuation allowance, deferred tax asset, increase (decrease), amount | 5,200,000 | ||
Operating loss carryforwards | 64,900,000 | ||
Sale of net operating losses | $ 1,000,000 | ||
Limitations on Net operating loss deductibility, description | In addition, the Tax Act imposes significant additional limitations on the deductibility of interest and limits net operating loss (NOL) deductions to 80% of net taxable income for losses arising in taxable years beginning after December 31, 2017. | ||
Prior to January 1, 2018 [Member] | |||
Operating loss carryforwards expiration date description | expire at various dates beginning in 2033 | ||
Federal and State Research and Development Tax Credit Carryforwards [Member] | |||
Tax credit carryforward, amount | $ 1,900,000 |
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- Definition Limitations on Net operating loss deductibility, description. No definition available.
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- Definition Operating Loss Carryforwards Expiration Date Description. No definition available.
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- Definition Provision decrease in deferred tax assets. No definition available.
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- Definition Sale of net operating losses. No definition available.
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- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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