Duos Technologies Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

NOTE 17 - INCOME TAXES (Tables)

NOTE 17 - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014


	Year ended December 31,
	2014			2013
Deferred tax assets:
Net operating losses	$	1,927,502		$	1,698,286
Allowance for bad debts		-			2,066
Stock options		-			6,167
Capital loss carryover		—			—
Common Stock for Services		—			—
Deferred revenue		—			—
Valuation allowance		(1,927,502	)		(1,691,298	)
Net deferred tax assets	$	-		$	15,221

Total deferred tax liabilities		-			(15,221	)
Total net deferred taxes	$	—		$	—

Income Tax (loss) - Federal statutory rate


	Year ended December 31,
	2014			2013

Income tax (loss) at federal statutory rate		(34.00	)%		(34.00	)%
State taxes, net of federal benefit		(3.63	)%		(3.63	)%
Nondeductible items		(5.5	)%		(93.37	%
Changes in valuation allowance		32.1	%		131.00	%
		0.00	%		0.00	%

- Definition

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

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