Income Taxes (Details Narrative) - USD ($) |
12 Months Ended | |
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Dec. 31, 2019 |
Dec. 31, 2018 |
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| Income Taxes (Details Narrative) | ||
| US statutory federal income tax rate description | The Act lowered the Companys US statutory federal income tax rate from 35% to 21% effective January 1, 2018 | |
| Federal and State corporate tax rate | 26.00% | |
| Effective tax rate | 26.00% | 26.00% |
| Net operating loss carry-forward | $ 87,800,000 | |
| NOL carryforwards description | The 20-year limitation was eliminated for losses incurred after January 1, 2018, giving the taxpayer the ability to carry forward losses indefinitely. However, NOL carry forward arising after January 1, 2018, will now be limited to 80% of taxable income. The $87.8 million available at December 31, 2019 includes $25.1 million of post 2017 NOLs without expiration dates and $62.7 million of pre-2018 NOLs expiring from 2021 to 2037. The NOL’s expiring in the next 5 years total approximately $0.4 million. | |
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- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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