Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Income Taxes

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Note 12 - Income Taxes
3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
1
2
.
Income Taxes
 
No
provision for income taxes has been recorded due to the net operating losses incurred from inception to date, for which
no
benefit has been recorded.
 
For interim periods, the Company estimates its annual effective income tax rate and applies the estimated rate to the year-to-date income or loss before income taxes. The Company also computes the tax provision or benefit related to items reported separately and recognizes the items net of their related tax effect in the interim periods in which they occur. The Company also recognizes the effect of changes in enacted tax laws or rates in the interim periods in which the changes occur.
 
The Company’s effective tax rate is
0%
for the
three
months ended
March 31, 2020.
The Company expects that its effective tax rate for the full year
2020
will be
0%.
   
 
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on
March 27, 2020
in the United States. The CARES Act includes several significant provisions for corporations, including the usage of net operating losses and payroll benefits. The Company is evaluating the impact, if any, the CARES Act and other economic stimulus measures will have on the Company’s financials and disclosures.