GREYSTONE LOGISTICS, INC. | 2013 | FY | 3


Deferred taxes as of May 31, 2013 and 2012 are as follows:

 

 

 

 

2013

 

 

2012

 

Net operating loss carryforward

 

$

1,965,370

 

 

$

2,548,931

 

 

 

 

 

 

 

 

 

 

   Depreciation and amortization, financial reporting in excess of tax

 

 

443,177

 

 

 

617,466

 

Deferred compensation accrual

 

 

244,800

 

 

 

244,800

 

Stock compensation costs

 

 

18,164

 

 

 

-

 

Allowance for doubtful accounts

 

 

34,000

 

 

 

17,000

 

 

 

 

2,705,511

 

 

 

3,428,197

 

Valuation allowance

 

 

(1,546,511

)

 

 

(2,843,197

)

 

 

 

 

 

 

 

 

 

Net Deferred Tax Asset

 

$

1,159,000

 

 

$

585,000

 


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