Evoke Pharma Inc - 10-K filing on 2016-03-10

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Reconciliation of Federal Statutory Income Tax Rate and Effective Income Tax Rate

A reconciliation of the federal statutory income tax rate and the effective income tax rate is as follows for the years ended December 31, 2015 and 2014:

	December 31,
	2015			2014
	(%)			(%)
Federal statutory rate		34.0			34.0
Change in valuation allowance		(1.6	)		(1.6	)
State income taxes, net of federal effect		5.8			5.8
Research and development credits		4.1			5.0
Removal of net operating loss and other credits		(39.2	)		(41.2	)
Stock compensation and other permanent items		(3.1	)		(2.0	)
Effective income tax rate		0.0			0.0

Summary of Significant Components of Deferred Tax Assets

Significant components of the Company’s deferred tax assets at December 31, 2015 and 2014 are as follows:

	December 31,
	2015			2014
Acquired technology	$	276,000		$	317,000
Stock compensation expense		430,000			223,000
Accruals and other		124,000			105,000
Total deferred tax assets		830,000			645,000
Less valuation allowance		(830,000	)		(645,000	)
Net deferred tax assets	$	—		$	—