American Fiber Green Products, Inc. | 2013 | FY | 3


The valuation allowance decreased by $139,694 during the year ended December 31, 2013 and decreased by $139,558 during the year ended December 31, 2012.

 

Current and Deferred Taxes, at statutory rates are as follows:

 

    2013     2012  
Current Tax Calculation:            
Federal Income Taxes     47,500       24,100  
State Income Taxes, net of benefit     5,000       2,600  
      52,500       26,700  
Deferred Tax Calculation:                
Federal Income Taxes     (1,759,200 )     (1,734,900 )
State Income Taxes, net of benefit     (186,300 )     (183,700 )
      (1,945,500 )     (1,918,600 )
Valuation allowance     1,945,500       1,918,600  
    $ -     $ -  

 


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