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

Annual report pursuant to Section 13 and 15(d)

NOTE 12 - INCOME TAXES (Tables)

NOTE 12 - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017 were as follows:


	Years Ended December 31,
	2018			2017
Income tax benefit at U.S. statutory rate of 21% in 2018 and 34% in 2017	$	(331,986	)	$	(1,751,842	)
State income taxes		(56,912	)		(185,489	)
Non-deductible expenses		110,165			551,235
Effect of change in federal statutory rate to 21%					490,618
Change in valuation allowance		278,733			895,478
Total provision for income tax	$			$

Net deferred tax assets

The Companys approximate net deferred tax assets as of December 31, 2018 and 2017 were as follows:



	December 31,
	2018			2017
Deferred Tax Assets:
Net operating loss carryforward	$	4,653,240		$	4,357,876
Intangible assets		80,472			97,103
		4,733,712			4,454,979
Valuation allowance		(4,733,712	)		(4,454,979	)
Net deferred tax assets	$			$