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

Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Difference between income taxes at effective statutory rate and provision for income taxes

The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2019 and 2018 were as follows:



	Years Ended December 31,
	2019			2018
Income tax benefit at U.S. statutory rate of 21%	$	(518,885	)	$	(331,986	)
State income taxes		(88,952	)		(56,912	)
Non-deductible expenses		26,943			110,165
Change in valuation allowance		580,894			278,733
Total provision for income tax	$			$

Net deferred tax assets

The Companys approximate net deferred tax assets as of December 31, 2019 and 2018 were as follows:



	December 31,
	2019			2018
Deferred Tax Assets:
Net operating loss carryforward	$	5,224,941		$	4,653,240
Intangible assets		53,995			80,472
Allowance for bad debt		35,670			-
		5,314,606			4,733,712
Valuation allowance		(5,314,606	)		(4,733,712	)
Net deferred tax assets	$			$