FEDERAL AND STATE INCOME TAXES
|12 Months Ended|
Dec. 31, 2020
|Income Tax Disclosure [Abstract]|
|FEDERAL AND STATE INCOME TAXES||
NOTE 7 — FEDERAL AND STATE INCOME TAXES
Income tax expense consisted of the following:
The reconciliation of income taxes shown in the financial statements and amounts computed by applying the Federal expected tax rate of 21% for year 2020 and 2019 is as follows:
The significant components of deferred income tax assets, net are as follows:
Our U.S. federal and state income tax returns remain open to examination for the tax years 2017 through 2020.
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/disclosureRef