ADM TRONICS UNLIMITED, INC. - 10-K filing on 2022-07-08

Note 13 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2022				2021

Net operating loss carry-forward		$	834,000			$	644,000
Research & development tax credit carry-forward			426,000				355,000
Allowance for doubtful accounts			190,000				84,000
Valuation allowance			(1,323,000	)			-
Other			(2,000	)			(2,000	)

Deferred tax asset, net		$	125,000			$	1,081,000

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2022				2021

Statutory federal income tax rate			21	%			21	%
State Taxes, net of federal			(1	%)			7	%
Valuation allowance			(296	%)			0	%
Other			67	%			(18	%)
Effective income tax rate			(209	%)			10	%