Duos Technologies Group, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

INCOME TAXES (Tables)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020 and 2019 were as follows:



	Years Ended December 31,
	2020			2019
Income tax benefit at U.S. statutory rate of 21%	$	(1,416,961	)	$	(518,885	)
State income taxes		(242,908	)		(88,952	)
Non-deductible expenses		135,152			26,943
Change in valuation allowance		1,524,717			580,894
Total provision for income tax	$			$

Net deferred tax assets

The Companys approximate net deferred tax assets as of December 31, 2020 and 2019 were as follows:



	December 31,
	2020			2019
Deferred Tax Assets:
Net operating loss carryforward	$	6,807,482		$	5,224,941
Intangible assets		31,841			53,995
Allowance for bad debt					35,670
		6,839,323			5,314,606
Valuation allowance		(6,839,323	)		(5,314,606	)
Net deferred tax assets	$			$